Mesa West Capital provided a joint venture led by United Properties with $47 million in short-term, first-mortgage debt to refinance Bishop Momo, a recently completed 274-unit multifamily community in Austin, Texas.
Delivered to market in 2024 by United Properties, Bishop Momo offers a mix of studio and one- and two-bedroom units. High-end interior finishes feature quartz countertops, stainless steel appliances, hardwood flooring and in-unit washer/dryers. Community amenities include a courtyard pool, grotto lounge, fitness center and a resident lounge with an outdoor deck. The property also includes 5,835 square feet of ground-floor retail space, which is 100% leased to community-serving tenants.
The asset is situated within the St. Elmo District, a 275-acre mixed-use redevelopment that has transformed a former industrial zone into a premier live-work-play destination. St. Elmo currently encompasses 223,000 square feet of office, retail, dining and entertainment, with roughly 900,000 additional square feet still planned. Nearby Interstate 35 provides direct access to the Austin Central Business District, home to approximately 132,000 jobs.
The financing was arranged by Chris McColpin of Newmark’s Austin office.
