Dealmaker: NXT Capital Provides $58M in Florida, California, Georgia

NXT Capital, Chicago, lent $58.4 million for office and multifamily properties in West Palm Beach, Fla., Sacramento, Calif. and Gainesville, Ga.

NXT provided an $18.45 million first mortgage loan on four West Palm Beach, Fla. multi-tenant office buildings. The buildings total 175,000 square feet of office and flex space.

CBRE Vice-Chairman Christian Lee and Vice President Amy Julian brought the opportunity to NXT. 

The office site borders Interstate 95 to the east and Palm Beach International Airport to the west. High-end retail districts including CityPlace and Clematis Street are less than one mile away.

NXT also provided a $23 million first mortgage for Prospect Park and Gateway Oaks, two Sacramento office buildings totaling 233,000 square feet.

CBRE Executive Vice President Brad Zampa placed the loan.

Bordered by Highway 50, Prospect Park was recognized as one of the most identifiable Class A office buildings in the Highway 50 Corridor. Gateway Oaks, a two story Class-A building in Crown Corporate Center Business Park, is less than four miles from Sacramento’s central business district and 15 minutes from Sacramento International Airport.

In Gainesville, Ga., NXT provided a $17 million first mortgage on Park Creek Apartments, a 200-unit Class B+ garden-style property east of Lake Lanier in Hall County. 

Melissa Marcolini Quinn, Managing Director and Senior Vice President in NorthMarq Capital’s Orlando office, placed the loan with NXT.

In addition, NXT Capital just closed on $312 million in equity for its NXT Capital Senior Loan Fund IV. The fund now has $900 million in capital to invest in primarily middle-market commercial real estate.