NXT Capital has closed a $25 million first mortgage to finance the acquisition of a 252-unit, Class B+ multifamily community in Dallas.
The property is located one mile north of Interstate 30 and three miles from downtown Dallas. Community amenities include:
- swimming pool
- dog park
- grill area
- fitness center
- golf course
- covered parking
- direct access to the Santa Fe Trail
Tony Stein in CBRE’s Austin, Texas, office placed the loan with NXT Capital.
In mid-October, NXT Capital closed a $31 million first mortgage to finance the acquisition of a 240-unit, Class B+ apartment community in Houston located in a highly regarded school district. In September, NXT Capital closed on an $18 million first mortgage loan to finance the acquisition of The Croft Apartments, a 138-unit Class B multifamily property in Denver.
In April, the firm arranged a $46 million first mortgage loan to refinance The Pierpont, a Class A apartment community in Spring, Texas. The 354-unit community was in the final stage of construction and early lease-up when the transaction closed. The property is 25 miles north of downtown Houston and four miles south of The Woodlands off Interstate 45.
Image courtesy of NXT Capital