Chicago, Illinois – NXT Capital announced today that it closed a $29.9 million loan to finance the acquisition of Liberty Oaks, a 300-unit, Class B apartment community located in Savannah, Georgia.
Liberty Oaks is located near the intersection of Veterans Parkway and Interstate 516, and the property provides residents access to virtually any part of Savannah within 15 minutes, including Downtown and Midtown. Community amenities include a clubhouse with a business center, fitness center, gazebo, swimming pool, two children’s playgrounds, picnic area, walking trail and an on-site laundry facility.
Richard Jordan of CBRE in Atlanta 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. Lending/financing services provided by NXT Capital, LLC. Loans will be arranged or made pursuant to a California Financing Law License.