Chicago, Illinois – NXT Capital announced today that it closed a $25 million first mortgage loan to finance the acquisition of a 252-unit, class B+ apartment community in Dallas, Texas.
The property is located one mile north of Interstate-30 and three miles from Downtown Dallas. Community amenities include direct access to the Santa Fe Trail, a clubhouse, grill area, pool, fitness center, dog park, golf course and covered parking.
Tony Stein in the Austin office of CBRE 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. See www.nxtcapital.com.