Chicago, Illinois – NXT Capital announced today that it closed a $33 million first mortgage loan to finance the acquisition of a 202,000 square foot, Class- A office building located in Dallas, Texas.
The property has unparalleled accessibility and visibility along the Dallas North Tollway, where an average of 430,000 vehicles pass per day. The office is located within one mile of 61 restaurants, 50 retail stores, 7,800 residential units and 19 hotels. By 2022, the Cotton Belt Rail Line will connect the office and the Dallas Fort Worth International Airport.
C.J. Kelly in the Atlanta 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.