Mesa West Capital recently provided a $71.5 million first mortgage, floating-rate loan to Atlanta-based real estate investment firm Audubon for The Cooper, a 344-unit multifamily community in the Charlotte suburb of Mount Pleasant, SC. This financing was arranged by CBRE’s Richard Jordan out of Atlanta and proceeds were used to repay an existing loan as well as fund future renovations including reconstruction of 16 units that were fire damaged in October 2019.
Audubon acquired The Cooper in December 2020 and has since increased cash flow and occupancy through property upgrades and institutional management such as renovation of most units along with updates to amenities like resort style swimming pool, fitness center & dog park plus refreshment of building exteriors. Located at 331 Harbor Pointe Drive, this 1986 built complex offers various floor plans for its residents’ convenience.
