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Josh Westerberg & Hoony Shin Of Mesa West Capital Provide $201.5M Loan For Multifamily Acquisition

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FINANCED
$201,500,000

California

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MultiFamily
Financed 01/01/2026
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Property Image
FINANCED

Josh Westerberg & Hoony Shin Of Mesa West Capital Provide $201.5M Loan For Multifamily Acquisition

2580 El Camino Real, East El Camino Real & 874 East El Camino Real

See Similar Deals
MultiFamily
Financed 01/01/2026
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Summary

CALIFORNIA
Asset Type:MultiFamily
Transaction Type:Loan

The asset involved in this transaction is a multifamily portfolio consisting of four properties, totaling 574 units. The properties are located at 2580 El Camino Real, 865-881 E. El Camino Real, and 874 East El Camino Real, situated in the Redwood City, Mountain View, and Sunnyvale markets. The loan amount for the acquisition is $201,500,000, and the portfolio is secured by the properties along with a fourth property located in Seattle.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $201,500,000
  • Lender: Josh Westerberg & Hoony Shin - Mesa West Capital
  • Landlord: Interstate Equities Corporation & PGIM
  • Units: 574
  • Loan Type: Acquisition

Key individuals in this transaction include Josh Westerberg and Hoony Shin, who represent Mesa West Capital as lenders. The landlords involved in the deal are Interstate Equities Corporation and PGIM, highlighting the collaboration among various entities to facilitate this acquisition of the multifamily portfolio.

Players

LENDER



PGIM
LANDLORD

Details

FINANCED
IMAGE: Josh Westerberg & Hoony Shin DATE: 01/01/2026 ADDRESS: 2580 El Camino Real, 865-881 E. El Camino Real & 874 East El Camino Real MARKET: Redwood City, Mountain View & Sunnyvale ASSET TYPE: Multifamily ~ UNITS: 574 LENDER: Josh Westerberg & Hoony Shin - Mesa West Capital LANDLORD: Interstate Equties Corporation & PGIM (@PGIM) LOAN AMOUNT: $201,500,000 LOAN TYPE: Acquisition NOTE FROM LENDER: Secured by a four-property portfolio totaling 574 units with a fourth property in Seattle.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$201,500,000.00

Monthly NOI$1,343,333.33
Monthly Debt Service$1,273,617.07
Change in Cash Flow$0.00
Refinance Proceeds$0.00