Chicago, Illinois – NXT Capital announced today that it closed a $18.3 million loan to finance the acquisition of a 228-unit, class B+ apartment community located in Houston, Texas.
The property offers convenient access to Downtown Houston, the Woodlands and the George Bush Intercontinental Airport. Community amenities include a detached clubhouse with business center, conference room, community kitchen, fitness center, detached garages, controlled access, a swimming pool, BBQ grills, sun deck and a dog park.
Mark Grace and Alex Koos in the Irvine office of Walker and Dunlop placed the loan with NXT Capital.
NXT Capital’s Real Estate Finance group primarily serves experienced real estate investors. It provides non-recourse floating rate first mortgages of $15 million to $75 million on value-add transactions. NXT Capital provides structured financing solutions through its Real Estate Finance and Corporate Finance groups, originating transactions on a national basis.