Chicago, Illinois – NXT Capital announced today that it closed a $36 million loan to finance the acquisition of Riverwalk Apartments, a 307-unit, Class A apartment community located in Rock Hill, South Carolina.
Riverwalk Apartments is located 19 miles southwest of Downtown Charlotte and is less than one mile away from Interstate 77. Community amenities include a resort style pool with water feature, poolside cabanas, hot tub, grilling station, resident business center with conference room, resident lounge with television and billiards, clubhouse with coffee bar, cybercafé, cinema room with stadium seating, fitness center, car center and pet park and wash station.
Purvesh Gosalia in the Houston office of Newmark Knight Frank 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.