Dealmaker: NXT Capital Provides $90M for Multifamily, Office
NXT Capital, Chicago, provided $89.5 million for apartment and office properties in Texas, Georgia and Florida.
In San Antonio, Texas, NXT Capital provided $24.5 million to Jevan Capital PLLC, Phoenix. A 224-unit Class B apartment community secured the financing. NorthMarq Capital Senior Vice President Luke Donahue placed the loan.
Located in the city’s Alamo Heights submarket, the property is one mile east of the McAllister Freeway and two miles south of San Antonio International Airport.
NXT Capital also completed two Georgia transactions. It lent $30 million to Enfold Properties, Atlanta, to refinance Ardmore & 28th, a newly constructed 165-unit Class A apartment community. The property in Atlanta’s Buckhead submarket includes both apartment and townhome units with garages.
CBRE Vice Chairman Richard Jordan placed the loan with NXT.
In Alpharetta, Ga., NXT Capital originated a $15 million first mortgage for Holder Properties’ Great Oaks Center, a three-building Class B+ office portfolio. Great Oaks Center is near Georgia State Route 400, which provides access to the Central Perimeter, Buckhead, Midtown and downtown Atlanta.
In Boynton Beach, Fla., Cooper-Horowitz Principal David Horowitz placed a $20 million loan with NXT Capital for 118 units within Monteverde Apartments, a 219-unit Class A- condominium property.
