Chicago, Illinois – NXT Capital announced today that it closed a $53 million loan to refinance a Class-A, 320-unit apartment community in Plano, Texas.
The property is located less than one mile east of the Sam Rayburn Tollway and the Dallas North Tollway junction. Community amenities include a gated parking garage with reserved parking, resort style swimming pool with cabanas, fitness center, resident lounge with coffee bar, business center, community-wide wifi, pet play area and pet washing station and a walking and running trail.
Jeremy Sain in the Dallas office of HFF 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.