Mesa West Capital provided a joint venture led by Onicx Group with a $66.3 million first mortgage loan to refinance a newly constructed multifamily community in Orlando, FL.
The floating-rate loan is secured by Nova at East Park Village, a 264-unit garden-style complex on a 10-acre site at 10403 Via Parco Orienta, and was originated by Mesa West Capital’s Brian Hahn, Russell Frahm, and Brad McCarthy. Completed in August, the property features a mix of one-, two-, and three-bedroom units across three mid-rise residential buildings. The units offer private balconies. Residents also enjoy access to amenities such as a pool with cabanas and a 24-hour fitness center.
“Strong location and submarket fundamentals have driven robust initial leasing velocity at the property,” said Hahn. “We expect Nova at East Park Village to continue to capture demand for new leases, positioning the property to achieve stabilized occupancy in the next 12–15 months.”
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