Chicago, Illinois – NXT Capital announced today that it provided a $33 million first mortgage loan to finance the acquisition of Gateway at Rock Hill Apartments, a newly constructed 312-unit, Class-A apartment community located in Rock Hill, South Carolina.
Gateway at Rock Hill is located twenty miles south of Charlotte, NC and less than five miles from Downtown Rock Hill, which is home to Winthrop University and many popular restaurants. Property amenities include a business center, fitness center, movie theatre and a grill and picnic area.
Michael Ortlip and Joshua Davis 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.