NXT Capital announced today that it closed a $20 million first mortgage loan to finance the acquisition of Arbor Lake Centre, a 214,000 square foot, Class B+ office building in Deerfield, Illinois.
Arbor Lake Centre is located 25 miles north of Chicago and 15 miles north of O’Hare International Airport with excellent access and visibility from both Interstate 94 and 294. Building amenities include a fitness center, café, conference room and an onsite ATM.
John Parrett and Liz Arnold in the Chicago office of CBRE 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 targeting a 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.