Mesa West Capital Provides $57M Refi for Florida Community

Cross Lake Partners, GreenPointe Holdings and Rivers Residential have secured a $56.6 million loan to refinance their multifamily community in South Hillsborough County, Fla., Commercial Observer has learned.

Mesa West Capital provided the three-year, floating-rate loan for the joint venture’s Easton Riverview, a 15.5-acre, 300-unit garden-style apartment complex at 14471 Stagedoor Johnny Place in Ruskin, which is about 19 miles south of Downtown Tampa, according to a release.

Berkadia’s Scott Wadler, Mitch Sinberg and Bryan Brown arranged the financing on behalf of the joint venture, while Mesa West’s Russell Frahm and Brian Hahn worked on the loan.

“This financing allows the borrower to pay off its construction loan and have prepay flexibility to either sell or place permanent financing at an opportunistic time in the future,” Wadler said in a statement.

Spokespeople for Cross Lake, GreenPointe and Mesa West did not immediately respond to requests for comment, while a spokesperson for Rivers Residential could not be reached for comment.

Built in 2023, Easton Riverview offers a mix of one-, two- and three-bedroom apartments. Amenities include a pool with cabanas, a 24-hour fitness center with a yoga room, two dog parks, a dog spa, a community club room, storage units and carports, according to the release.

Easton Riverview is within the larger 932-acre Belmont mixed-use community, which features 1,930 single-family homes and townhomes, as well as stores, schools and parks, the release said. A branch of the Goddard School is set to open soon just north of the property.

News of the loan comes just a few days after Mesa West provided a $55 million loan to an affiliate of Seaview Investors for the 186-key Burton House Beverly Hills hotel in Beverly Hills, Calif., as CO previously reported.

Isabelle Durso can be reached at idurso@commercialobserver.com.