Chicago, Illinois – NXT Capital announced today that it closed a $27 million loan to finance the acquisition of Valley Commerce Center, a two-building, 216,000 square foot, Class B office complex located in Phoenix, Arizona.
Valley Commerce Center is located approximately four miles north of downtown Phoenix and six miles northwest of Phoenix Sky Harbor International Airport. Interior common area amenities include an onsite fitness room and conference room. The outdoor courtyard is a collaborative working space with community seating areas, shade sails, fountains, and bocce ball court.
Tim Storey in the Phoenix office of Newmark Realty Capital 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.