Mesa West Capital Provides $81M Refi for Townhome Complex Outside Houston

Knightvest Capital has secured $81 million to refinance Domain Memorial, a 313‑unit townhome multifamily community in Houston, Texas, Commercial Observer can first report. 

Mesa West Capital provided the five-year, floating-rate loan that will primarily be used to finance interior renovations to the units. No broker was listed on the transaction. 

Located at 14800 Memorial Drive in the Briar Forest submarket of Houston — a neighborhood within the city’s “Energy Corridor” that is home to more than 100,000 jobs — Domain Memorial opened in 2016 and features of one‑ to three‑bedroom units set among 29 two-story townhomes across nearly 13 acres of land.  

The complex was acquired by Knightvest Capital in 2022. 

The firm has engaged in capital improvements over the last four years, particularly renovating the property’s parking lot; updating amenities at the clubhouse, fitness center and pool; and adding a new EV charging station. 

Brian Hirsh, head of Mesa West Capital’s central region, said in a statement that the capital investments by Knightvest Capital have driven “meaningful rent growth,” and occupancy metrics remain high. 

The building currently carries a 95.2 percent occupancy. 

“We expect this trend to continue as Knightvest finishes the final phase of the business plan and demand for townhome products in the market continues to grow,” said Hirsh. 

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