Chicago, Illinois – NXT Capital announced today that it closed a $30 million loan to finance the acquisition of a 300-unit, Class B apartment community located in San Antonio, Texas.
The property is located 10 miles north of downtown San Antonio and three miles northwest of the San Antonio International Airport. Community amenities include a detached clubhouse with business center, 24-hour fitness center, sundeck with two swimming pools, and both covered parking and attached garages.
Tip Strickland, David Schwarz and Kevin Amend of Newmark Knight Frank in Houston 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. See www.nxtcapital.com.