Chicago, Illinois – NXT Capital announced today that it closed a $16 million first mortgage loan to finance the acquisition of a 264-unit, Class B apartment complex located in San Antonio, Texas.
The property is conveniently located near Interstate 10 and Loop 410, providing exceptional connectivity to greater San Antonio. It is in close proximity to RIM Shopping Center, the Shops at La Cantera, the Huebner Oaks Shopping Center and the South Texas Medical Center. Community amenities include two pools, a clubhouse and a laundry facility.
CW Sheehan in the Austin office and Mark Brandenburg in the Dallas office of JLL placed the loan with NXT Capital.
NXT Capital’s Real Estate Finance group primarily serves experienced real estate investors. It provides non-recourse first mortgages of $10 million to $75 million for major-market properties with initial DSC greater than 1.0X. NXT Capital provides structured financing solutions through its Real Estate Finance and Corporate Finance groups, originating transactions on a national basis.