DALLAS — Mesa West Capital has provided a total of $59.7 million in first mortgage loans for two Dallas office asset acquisitions. In one transaction, CapRidge Partners received $30.9 million in financing for the purchase of Gramercy Center, a 255,000-square-foot property in the Upper Tollway submarket, from a partnership between Stockbridge Real Estate and Billingsley Co. Constructed in 1999 and renovated in 2012, the two-building complex was 79 percent occupied at the time of the sale. Andy Scott and Jim Curtin of HFF arranged the loan, which was originated by Jason Bressler of Los Angeles-based Mesa West. In a separate transaction, Brookwood Financial Partners LLC received $28.8 million in financing for the purchase of Heritage Square, a 359,758-square-foot property in the Far North Dallas submarket, from Silver Tree Partners. Built in 1978 and 1980, the two buildings of the complex were 56 percent occupied at the time of the transaction. Charles Foschini, Christian Lee and Chris Apone of CBRE arranged the loan, which was also originated by Bressler of Mesa West. The borrowers in both transactions plan to use a portion of their respective loans for capital improvements.
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