Chicago, Illinois, July 10, 2018 – NXT Capital announced today that it closed a $55 million first mortgage loan to finance the acquisition of Cumberland Center II, a 419M square-foot, Class-A office building located in Atlanta, Georgia.
Located in the Cumberland/Galleria submarket, Cumberland Center II is located less than one mile away from Cobb Parkway, Interstate 285 and Interstate 75. Cumberland Center II benefits from its proximity to Cumberland Mall, The Battery Atlanta, which is home to the Atlanta Braves, and numerous restaurants and retail centers.
C.J. Kelly, Porter McDonald and Jeff Ackemann 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 with initial 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.