Mesa West Refis Georgia Student Housing
The community was built during a period of high demand at the University of Georgia.
Mesa West Capital originated a $133.9 million short-term first mortgage to refinance Rambler Athens, a 750-bed student housing community near the University of Georgia in Athens, Ga. The four-year loan refinances a previous construction loan on the LV Collective-owned property, which was completed in August of 2024.
TSB Capital Advisors arranged the financing. The property has seen strong preleasing momentum for the 2025-26 academic year. According to Yardi Matrix, both preleasing and per-bed rents for the University are up 4.2 and 5.1 percent year-over-year respectively.
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“The support we received from the LV team contributed to a seamless financing execution,” said Brian Hirsh, the executive director for Mesa West’s Capital Originations team. Hirsh oversaw the origination alongside executive director Russell Frahm and associate Joseph Sachs. The team is based in New York and Chicago.
College town feel
Bearing an address of 558 W. Broad St., the 8-story, 344-unit Rambler Athens has amenities including pool and hot tub, sun deck with jumbotron, fitness center, saunas, collaborative workspaces, study rooms and a secured-access parking garage. Daydreamer Coffee has a location on the community’s on the ground floor.
Individual residences feature in-unit washers and dryers, above-standard ceiling heights, high-speed Internet access and microwave ovens and digital locks in all units.
The community is located roughly a mile to the northwest of the University of Georgia’s main campus, and roughly half a mile away from its football stadium. Downtown Athens is located roughly a mile to the east, and a park lining the North Oconee River is roughly equidistant to the University campus.
Mesa West remains a fan of specialty multifamily assets. In October, the firm furnished a $57 million five-year, floating-rate loan to refinance a luxury senior housing community, Thrive Senior Living, in Montvale, N.J.
