Chicago, Illinois – NXT Capital announced today that it closed a $28 million first mortgage loan to finance the acquisition of a 264-unit, Class A- apartment community in Kyle, Texas.
The property is conveniently located near Interstate 35 which provides exceptional connectivity to greater Austin and San Marcos. It is located minutes away from Seton Medical Center Hays, Austin Community College Hays Campus and near numerous retail centers and restaurants. Community amenities include a large resort-style pool with waterfall, outdoor gazebo with television, leasing/clubhouse/business center, 24-hour fitness center and covered carport spaces.
Casey J. Knust 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.