Chicago, Illinois – NXT Capital announced today that it provided a $32.5 million first mortgage loan to finance the acquisition of a 278-unit, Class-B apartment community located in Plano, Texas.
The property is located north of downtown Dallas and offers amenities including a fitness center, multiple swimming pools, dog wash, mail center, laundry center, tennis court, picnic area and children’s play area. The property is also adjacent to an outdoor pool, children playground, and dog park.
Suzanne Jones in the Dallas office of NorthMarq 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 $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.