Wildhorn Capital Secures Financing for Austin Acquisition
Mesa West Capital provided the loan for the purchase of Patten East in the East Riverside submarket.
Mesa West Capital has provided a $33.5 million acquisition loan to Wildhorn Capital for its purchase of Patten East, a 284-unit multifamily community in Austin, Texas. The five-year, floating rate loan was arranged by Newmark Knight Frank. The Mesa West Capital team was led by Vice President Brian Hirsh.
Located at 2239 Cromwell Circle, the 12-acre community is situated in the southeast Austin submarket of East Riverside. The property is also within 3 miles of the city’s central business district and near Oracle’s Waterfront Campus. It was sold by Hawthorne Residential Partners.
Patten East offers residents a mix of one- and two-bedroom units in the 19 low-rise residential buildings. Amenities include a 24-hour fitness center, outdoor fireplace, saltwater swimming pool, outdoor kitchen, dog park and clubhouse with resident lounge and Starbucks coffee bar. Wildhorn Capital plans to make improvements to the common areas, building and unit interiors.
Last month, Mesa West Capital provided a $65 million loan for the acquisition of a Los Angeles community.