Chicago, Illinois – NXT Capital announced today that it provided a $37.5 million first mortgage loan to finance the acquisition of Argon Plaza, a 275,000-square foot, class B+ office building located in Fairfax, Virginia.
Argon Plaza is located 14 miles west of The Capital Beltway (Interstate 495) and 12 miles southeast of Washington Dulles International Airport. It is also near The Shops at Fair Lakes, Fair Lakes Center, Fair Lakes Promenade, Fairfax Towne Center, Fair Oaks Mall and Fairfax Corner.
Hal Kempson in the Charlotte office and Bob Donhauser and Bill Asbill in the Washington, D.C. office of JLL 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.