Mesa Capital Partners announced three investments following the closing of its $250 million BMCC Investment Group 10 (BMCC10), including the acquisition of a West Midtown apartment community and the development of multifamily projects in Palm Coast, Florida, and Woodstock.
The remainder of the BMCC 10 capital will be put toward similar investments, including newer stabilized acquisitions, direct Mesa developments and joint-venture capitalizations.
Mesa acquired The Mill at Westside, a 282-unit, class A midrise apartment community on Huff Road, just off Howell Mill Road in West Midtown, for an undisclosed amount on June 17. Worthing Companies built the community in 2017.
“We are looking forward to adding this asset to our portfolio,” Mesa CEO and Managing Partner Jeff Tucker said in a press release. “It is ideally located in the dynamic West Midtown submarket, and it sits nearly adjacent to the future Atlanta Beltline extension in West Midtown. This is a fairly new and well-maintained class A community with comprehensive amenities, including a rooftop pool and sundeck offering panoramic views of Buckhead, Midtown and Downtown.”
Mesa also purchased a 9.27-acre site in Cherokee County near Woodstock, where it plans to develop a 287-unit, class A community in the Buice Lake master-planned community, which is a 200-acre mixed-use community with over 300 single-family homes, 150 townhomes and two separate phases of multifamily communities. Mesa’s project is the final of these two phases. Mesa plans to break ground on the project, which will front Bells Ferry Road, in the fourth quarter of 2024 or the first quarter of 2025.
In Florida, Mesa is set to break ground on Marbella Apartments in Palm Coast this month. The project spans 19 acres and is located within the Whiteview Village master-planned development, which will include a city park and single-family homes built by KB Homes. Marbella will have 316 apartments in two-story carriage homes and three-story walk-up buildings. Community amenities will include a clubhouse with interior community space and fitness center and a resort-style pool.
“Palm Coast’s rapid population growth is generating a significant need for quality rental housing,” Tucker said. “With a population of over 100,000 and annual growth exceeding 3,000 residents, Marbella’s Flagler County is one of the fastest-growing locations in the United States. We are looking forward to delivering our high-quality and much-needed community by early 2026.”