Chicago, Illinois – NXT Capital announced today that it closed a $36 million loan to finance the acquisition of Gateway Professional Center, a four-building, Class A- office complex located in Sarasota, Florida.
Gateway Professional Center is located at the intersection of Interstate 75 and Fruitville Road, five miles west of downtown Sarasota. The property is located 10 miles from The Sarasota-Bradenton International Airport and 60 miles from the Tampa International Airport. Property amenities include a conference room, fitness center, on-site management and 24-7 access via key card.
Saul Hoppenstein and James Elmore from the Boca Raton office of Berkadia 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.