Mesa West Provides $51M First Mortgage Refi on Jacksonville Multifamily Complex

Beachwold Residential has secured $50.5 million to refinance Gran Bay Apartment Homes, a 308-unit, garden-style rental community in Jacksonville, Fla., Commercial Observer can first report. 

Mesa West Capital provided the debt, structured as a five-year, nonrecourse loan, while Walker and Dunlop’s Taylor Williams arranged the financing. 

Mesa West’s Russell Frahm noted that Jacksonville’s multifamily market has been aided in recent years by population growth and a consistent demand for rental properties, with the city and its surrounding area absorbing in excess of 5,000 units in 2025. 

“As deliveries slow and leasing momentum remains intact — particularly in the Southside corridor — we believe well‑located, stabilized assets like Gran Bay are positioned to benefit from improving fundamentals and a more balanced supply/demand environment over the coming years,” said Frahm.  

Located at 13444 Gran Bay Parkway in the Southside submarket of Duval County, Gran Bay Apartments opened in 2015 and contains 14 buildings across 15.5 acres, with the complex boasting one- to three-bedroom units. 

On-site amenities include a resort-style swimming pool, a fitness center, a business center, outdoor grilling areas with fire pits, a dog park, and a children’s play area.

Beachwold Residential did not respond to requests for comment. 

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