Mesa West Provides $42M Acquisition Loan for Dallas Townhouse Community

A joint venture between Knightvest Capital and TPG Angelo Gordon has secured $42 million to acquire and renovate Perry Row, a 149-unit townhouse community in Dallas, Commercial Observer can first report. 

Mesa West provided the five-year, nonrecourse loan, which was arranged by JLL’s Mark Brandenburg out of the firm’s Dallas office. 

Brian Hirsh, head of Mesa West Capital’s central region, led the origination of the loan. Hirsh said in a statement that the acquisition of Perry Row is a value-add investment in a community that has undergone limited capital improvements in the last 16 years. 

He added that the asset is differentiated by existing townhouse stock due to its location that intersects with several affluent Dallas neighborhoods. 

“The joint venture between Knightvest and TPG Angelo Gordon is well positioned to successfully execute this business plan and drive value,” said Hirsh. 

Located at 6044 East Lovers Lane six miles north of Downtown Dallas, Perry Row opened in 2009. The complex features three-story townhouses with one- to three-bedroom units, and includes community amenities such as a fitness center, a pool, an outdoor kitchen and a business center. 

Knightvest Capital and TPG Angelo Gordon intend to upgrade Perry Row’s exteriors and common areas and fully renovate the units’ interiors. 

Brian Pascus can be reached at bpascus@commercialobserver.com.