CHARLOTTE, N.C. — Mesa West Capital has provided a $69.8 million acquisition loan for Loft One35, a 298-unit multifamily community located at 135 W. Morehead St. in Charlotte’s South End neighborhood. The borrower, a joint venture between Hillridge Capital and Broad Creek Capital, will use a portion of the loan proceeds to fund capital improvements, including exterior paint, upgraded common spaces and interior renovations for select units.
Chris Campbell, Matt Brody, Daniel Allman and Catherine Reinecker of Eastdil Secured arranged the five-year, floating-rate loan on behalf of the borrower. Loft One35 features studio, one- and two-bedroom apartments, as well as two-story townhomes and lofts. Amenities include a resort-style pool, outdoor courtyard with fire pit and barbecue stations, pet spa, coffee bar and bike storage.