{"id":1004155996,"date":"2016-10-18T23:18:30","date_gmt":"2016-10-19T07:18:30","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004155996"},"modified":"2020-05-14T03:24:13","modified_gmt":"2020-05-14T11:24:13","slug":"mesa-west-funds-91m-loan-for-austin-office-campus","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/mesa-west-funds-91m-loan-for-austin-office-campus\/","title":{"rendered":"Mesa West Funds $91M Loan for Austin Office Campus"},"content":{"rendered":"<p>By Gail Kalinoski<\/p>\n<div id=\"attachment_1004155997\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/10\/Stonebridge-Plaza-I-II-Asutin.jpg\" target=\"_blank\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004155997\" data-attachment-id=\"1004155997\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/mesa-west-funds-91m-loan-for-austin-office-campus\/stonebridge-plaza-i-ii-asutin\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/10\/Stonebridge-Plaza-I-II-Asutin.jpg\" data-orig-size=\"948,680\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Stonebridge-Plaza-I-II-Asutin\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/10\/Stonebridge-Plaza-I-II-Asutin.jpg?w=948\" class=\"wp-image-1004155997 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/10\/Stonebridge-Plaza-I-II-Asutin.jpg\" alt=\"Stonebridge Plaza I &amp; II\" width=\"300\" height=\"215\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/10\/Stonebridge-Plaza-I-II-Asutin.jpg 948w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/10\/Stonebridge-Plaza-I-II-Asutin.jpg?resize=300,215 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/10\/Stonebridge-Plaza-I-II-Asutin.jpg?resize=768,551 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004155997\" class=\"wp-caption-text\">Stonebridge Plaza I &amp; II<\/p><\/div>\n<p><strong>Austin, Texas\u2014<\/strong><a href=\"https:\/\/mesawestcapital.com\/\" rel=\"nofollow\" target=\"_blank\">Mesa West Capital<\/a> originated a $90.5 million first mortgage loan for <a href=\"https:\/\/kbs.com\/\" rel=\"nofollow\" target=\"_blank\">KBS Realty Advisors<\/a> to recapitalize its recent all-cash acquisition of Stonebridge Plaza I &amp; II, a 386,000-square-foot, Class A office campus in Austin, Texas.<\/p>\n<p>The five-year, floating-rate loan is secured by the two nine-story LEED-certified <a href=\"https:\/\/www.commercialsearch.com\/news\/office\/\" target=\"_blank\">office buildings <\/a>and seven-story parking garage on 5 acres at 9600 and 9606 N. MoPac Expressway in Northwest Austin, one of the city\u2019s strongest office submarkets, according to Mesa West Capital.<\/p>\n<p>When <a href=\"https:\/\/www.commercialsearch.com\/news\/kbs-takes-2-in-austin\/\" target=\"_blank\">KBS acquired the property<\/a> in August, the Newport Beach, Calif.-based private equity real estate company noted it was 96 percent leased to tenants including Qualcomm, Google and Oracle. Mesa West Capital also referred to the \u201cvariety of strong credit-worthy tenants\u201d and described the buildings<strong>\u2014<\/strong>completed in 1999 and 2001<strong>\u2014<\/strong>as institutional quality. A portion of the loan proceeds will be used for costs to renew existing loans or re-tenant the buildings if needed, stated Mesa West Capital Principal Steve Fried, who originated the loan from the firm\u2019s Los Angeles office.<\/p>\n<p>\u201cThe sponsor acquired an iconic asset with below market in place rents,\u201d Fried said in a prepared statement. \u201cNorthwest Austin is one of the foremost corporate locations in the market. We are confident that KBS will be able to successfully leverage the building\u2019s superior aesthetics, strong access and location, efficient floor plans and excellent parking to both retain and attract large corporate users that have been drawn to Austin.\u201d<\/p>\n<p>Mesa West Capital originated the loan out of its open-ended Mesa West Core Lending Fund, which provides first mortgage loans up to $300 million. The privately held debt fund manager and portfolio lender has more than $4.5 billion in assets under management. With offices in Chicago, Los Angeles and New York City, Mesa West is a leading provider of commercial real estate debt and has sourced and closed more than 245 transactions totaling more than $10 billion since its founding in 2004.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>KBS Realty Advisors has recapitalized its recent acquisition of Stonebridge Plaza I &#038; II in the city&#8217;s Northwest submarket.<\/p>\n","protected":false},"author":1068,"featured_media":1004155997,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1578,21743,21808,21825,21742,21747],"tags":[],"class_list":["post-1004155996","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-austin","category-deals","category-featured","category-finance","category-latest","category-office"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Mesa West Funds $91M Loan for Austin Office Campus - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/mesa-west-funds-91m-loan-for-austin-office-campus\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Mesa West Funds $91M Loan for Austin Office Campus\" \/>\n<meta property=\"og:description\" content=\"KBS Realty Advisors has recapitalized its recent acquisition of Stonebridge Plaza I &amp; II in the city&#039;s Northwest submarket.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/mesa-west-funds-91m-loan-for-austin-office-campus\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2016-10-19T07:18:30+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-05-14T11:24:13+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/10\/Stonebridge-Plaza-I-II-Asutin.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"948\" \/>\n\t<meta property=\"og:image:height\" content=\"680\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Gail Kalinoski\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/mesa-west-funds-91m-loan-for-austin-office-campus\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/mesa-west-funds-91m-loan-for-austin-office-campus\/\",\"name\":\"Mesa West Funds $91M Loan for Austin Office Campus - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/mesa-west-funds-91m-loan-for-austin-office-campus\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/mesa-west-funds-91m-loan-for-austin-office-campus\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/10\/Stonebridge-Plaza-I-II-Asutin.jpg\",\"datePublished\":\"2016-10-19T07:18:30+00:00\",\"dateModified\":\"2020-05-14T11:24:13+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/fc5b5df1393e5023d2417bd48c2fda57\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/mesa-west-funds-91m-loan-for-austin-office-campus\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/mesa-west-funds-91m-loan-for-austin-office-campus\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/mesa-west-funds-91m-loan-for-austin-office-campus\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/10\/Stonebridge-Plaza-I-II-Asutin.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/10\/Stonebridge-Plaza-I-II-Asutin.jpg\",\"width\":948,\"height\":680},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/mesa-west-funds-91m-loan-for-austin-office-campus\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.commercialsearch.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Mesa West Funds $91M Loan for Austin Office Campus\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/fc5b5df1393e5023d2417bd48c2fda57\",\"name\":\"Gail Kalinoski\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/04\/Gail-Kalinoski-headshot.jpeg?w=86\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/04\/Gail-Kalinoski-headshot.jpeg?w=86\",\"caption\":\"Gail Kalinoski\"},\"description\":\"Kalinoski has been a contributing writer to Commercial Property Executive and Multi-Housing News since 2010 and previously wrote for three years for Commercial Property News. 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