Chicago, Illinois – NXT Capital announced today that it closed a loan to finance the acquisition of Sarasota City Center, a thirteen-story, 248,000 square foot, Class A- office building located in Sarasota, Florida.
Sarasota City Center is located on the east side of the Sarasota central business district with Sarasota Bay less than one mile to the west. Interstate 75 is approximately five miles east, Sarasota-Bradenton Airport is five miles north and Tampa International Airport is 56 miles north of the property. Property amenities include an onsite café, full-service bank, fitness center, atrium style lobby, tenant lounge, conference room, hair salon and spa, landscaped courtyard with tables and chairs, shoe repair and views of Sarasota Bay and Downtown Sarasota from the upper floors.
Bryan Clark of Jones Lang LaSalle Americas Inc in San Diego 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.