Chicago, Illinois – NXT Capital announced today that it closed a $28.5 million loan to refinance a 278-unit, Class A apartment community located in San Antonio, Texas.
The property is located in a master-planned community featuring over 10 million square feet of retail and 5 million square feet of office space within a five-mile radius. It offers convenient access to greater San Antonio via Loop 1604 and Highway 151. Community amenities include a resort-style pool with waterfall and tanning ledge, cabanas with grilling stations, an outdoor fire pit, dog park, clubroom, concierge service, cybercafé, 24-hour fitness center and an indoor/outdoor lounge.
Jason Bond and Dan Kearns in the Chicago 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 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.