Chicago, Illinois – NXT Capital announced today that it provided a $27 million first mortgage loan to finance the acquisition of the Village at Town Center, a 240-unit garden-style apartment community located in Orlando, Florida.
The Village at Town Center is located five miles from Walt Disney World. Plans for the property include upgrading the pool and tennis courts, as well as adding a tot lot, car care station, outdoor grill and gazebo, free clubhouse wifi, fitness facility and more.
Elliott Throne of HFF Miami 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.