Chicago, Illinois, NXT Capital announced today that it provided a $19 million first mortgage loan to refinance a 94-unit, Class-A+ apartment community in Dallas, Texas.
The property is located in Uptown Dallas, near downtown, directly north of Klyde Warren Park and the Winspear Opera House. Uptown is known as the most walkable neighborhood in Dallas, offering 200- plus restaurants and over 160 shops. Apartment community amenities include a swimming pool with sundeck and grilling stations, resident lounge, fitness center, bike storage, pet washing stations and concierge services.
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.