Chicago, Illinois – NXT Capital announced today that it provided a $24.5 million first mortgage loan to finance improvements at Link Apartments® Mixson, a 268-unit, Class-A apartment community located in Charleston, South Carolina.
The property is centrally located in North Charleston, five miles from downtown and near the Charleston International Airport. Link Apartments® Mixson is part of a master-planned community in North Charleston. The development will include single family homes, townhouses, Mixson Bath & Racquet Club, various community amenities, a farmers market, a restaurant, and more. The property is owned and managed by Grubb Properties, a southeast real estate and investment company.
Christopher Caison and John Hankins in the Charlotte office of Grandbridge Real Estate Capital 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 $40 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.