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Knightvest Capital Secures $27.7 Million Loan From Mesa West Capital For 156-Unit Apartment Acquisition

Property Image
FINANCED
$27,700,000

North Carolina

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MultiFamily
Financed 10/01/2025
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Property Image
FINANCED

Knightvest Capital Secures $27.7 Million Loan From Mesa West Capital For 156-Unit Apartment Acquisition

12203 Strickland Road

See Similar Deals
MultiFamily
Financed 10/01/2025
the dealplayerscompscontact
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Summary

NORTH CAROLINA
Asset Type:MultiFamily
Transaction Type:Loan

The Lofts at Strickland Glen is a 156-unit apartment community located at 12203 Strickland Road in Raleigh, NC. The property is classified as a Multifamily asset and is part of the Northwest Raleigh market. Knightvest Capital has secured a floating-rate loan for this acquisition.

Summary of transaction details:

  • Property Type: MultiFamily
  • Transaction Amount: $27,700,000
  • Address: 12203 Strickland Road
  • Market: Raleigh, NC
  • Units: 156
  • Lender: Brian Hirsh - Mesa West Capital
  • Landlord: Knightvest Capital

This transaction involves a five-year financing arrangement that will also support renovations to approximately 80% of the units, as well as upgrades to shared amenities, including the clubhouse, pool, and fitness center.

Players

Mesa West Capital
Mesa West Capital
LENDER
Mesa West Capital
Mesa West Capital
LENDER
Knightvest Capital
Knightvest Capital
LANDLORD

Details

FINANCED
IMAGE: 10/01/2025 ADDRESS: 12203 Strickland Road MARKET: Raleigh, NC ASSET TYPE: MultiFamily ~ UNITS: 156 LENDER: Brian Hirsh - Mesa West Capital LANDLORD: Knightvest Capital LOAN AMOUNT: $27,700,000 NOTE: Mesa West Capital provided Knightvest Capital with a $27.7 million floating-rate loan to acquire The Lofts at Strickland Glen, a 156-unit apartment community in Northwest Raleigh, NC. The five-year financing will also fund renovations to roughly 80% of the units and upgrades to shared amenities including the clubhouse, pool, and fitness center.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$27,700,000.00

Monthly NOI$184,666.67
Monthly Debt Service$175,082.84
Change in Cash Flow$0.00
Refinance Proceeds$0.00