Chicago, Illinois – NXT Capital announced today that it provided a $29.5 million first mortgage loan to finance the acquisition of 251 units within Crosswynde Apartments, a 453-unit, Class A garden-style residential community located in Tampa, Florida.
The property is located less than ten miles from Tampa’s Central Business District and just a short drive to retail centers including Westfield Brandon, Lake Brandon Village and Lake Brandon Plaza. Community amenities include a clubhouse, fitness center, basketball court, business center, playground, swimming pool, volleyball court and racquetball court.
David Horowitz in the New York office of Cooper-Horowitz placed the loan with NXT.
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.