NXT Capital Provides Financing for Dallas Acquisition

The 252-unit multifamily community is three miles from downtown Dallas and has direct access to the Santa Fe Trail.
The name of this apartment community in Dallas was withheld.

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:

  • clubhouse
  • 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