Chicago, Illinois – NXT Capital announced today that it closed a $18 million first mortgage loan to finance the acquisition of The Croft Apartments, a 138-unit class B apartment community located in Denver, Colorado.
The property is surrounded by recreation, entertainment, shopping and dining amenities. Four million square feet of retail sits within a two-mile radius of The Croft Apartments. Community amenities include a business center, TV lounge, indoor pool, sundeck and a fitness center.
Jeff Ogden in the Denver 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 targeting a 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.