Mesa West Provides $47M Refi for 274-Unit Austin Apartment Complex

United Properties has secured $47 million to refinance Bishop Momo, a 274-unit multifamily community that opened two years ago in Austin, Texas, Commercial Observer can first report. 

Mesa West Capital originated the short-term, first-mortgage debt, while Newmark’s Chris McColpin arranged the transaction. 

Brian Hirsh, head of Mesa West Capital’s central region office, noted that the asset benefits from an existing supply and demand imbalance in Austin, particularly a lack of new construction starts. Austin’s population grew 3.3 percent from April 2020 to July 2024, per the U.S. Census Bureau. 

“Bishop Momo is a high-quality, well-located asset that is well situated to benefit from these shifting market fundamentals,” he added. 

Located at 4341 South Congress Avenue in the St. Elmo district of South Austin — a 275-acre mixed-use redevelopment not far from Austin-Bergstrom International Airport — Bishop Momo opened in 2024 and features studios to two-bedroom apartment units. 

Amenities at Bishop Momo include a courtyard pool, a grotto lounge, a fitness center and a resident lounge with outdoor seating, while the ground floor features 5,835 square feet of retail space that is 100 percent occupied. 

“We have worked extremely hard to create a unique multifamily asset, and we view Mesa West as the perfect partner to help position the property for its next stage of ownership,” said Victor Young, senior vice president at United Properties. 

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