Mesa West Capital Provides $134M Refi for Georgia Luxury Student Housing Property

LV Collective has secured $133.9 million to refinance Rambler Athens, a recently built student housing complex with 750 beds near the University of Georgia campus in Athens, Commercial Observer has learned. 

Mesa West Capital provided the four-year loan, which is short-term, first mortgage debt that will refinance the existing construction loan on the complex. Harrison Reid of TSB Capital Advisors arranged the deal for LV Collective, an Austin-based firm. 

Located at 558 West Broad Street — adjacent to the campus and University of Georgia School of Law — Rambler Athens opened in 2024. The property houses 342 units, ranging from studios to five bedroom apartments. Amenities include a resort-style pool and hot tub, a sundeck, a fitness center, study rooms and workspaces, and a parking garage. The property also includes a coffee shop, Daydreamer Café, in addition to 22,692 square feet of unleased retail space.

Mesa West executive director Brian Hirsh, who led the transaction together with executive director Russell Frahm and associate Jonah Sacks, noted in a statement that Rambler Athens has experienced “robust pre-leasing momentum” for the 2025 to 2026 school year and is “a best in class product.”

“We continue to see a growing market opportunity in the student sector, driven by strengthening fundamentals,” said Hirsh. “The University of Georgia has experienced healthy enrollment trends with a notable increase in applications in recent years.” 

Brian Pascus can be reached at bpascus@commercialobserver.com