Mesa Capital Picks Up Discounted Atlanta Rental Asset

Mesa Capital Partners acquired a 282-unit apartment complex in West Midtown Atlanta. The company paid $70.5 million for The Mill at Westside, which was sold by Starlight Investments.

The Atlanta Business Chronicle reports that the property last sold for $72.5 million in November 2018. Mesa secured a nearly $39 million loan from Walker & Dunlop. The loan matures in July 2029.

Monthly rents for units at The Mill at Westside range from $1,486 to $2,412, and square footage ranges from 632 to 1,396.

On its website, Mesa says it focuses on identifying quality multifamily development investments and opportunistically targeting distressed, value-add multifamily assets in primary, secondary and tertiary markets. Starlight says it focuses on serving U.S. middle-market households in suburban areas with compelling population, economic and employment growth rates.