Chicago, Illinois – NXT Capital announced today that it closed a $36 million loan to finance the acquisition of The Mark, a 150-unit, Class B- apartment community located in Hayward, California.
The Mark is located two blocks from Interstate 880 and half a block from Highway 92 which connects the property to the San Mateo-Hayward Bridge, offering direct access to the San Francisco Peninsula and Silicon Valley. Oakland International Airport is located approximately nine miles from the property. Community amenities include a fitness center, swimming pool, sundeck, BBQ area with picnic tables and a clubhouse.
Annie Rice in the Los Angeles 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 $15 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.