NXT Capital announced today that it closed a $23 million first mortgage loan to finance the acquisition of Technology Park, a four-building, 253,000 square foot, Class B+ office portfolio located in Peachtree Corners, Georgia.
The properties are located within Technology Park Atlanta, which is situated between multiple cities including Dunwoody, Norcross and Duluth, with access to downtown and north Atlanta via Interstates 85, 285 and GA-141. Technology Park offers access to a wide variety of shopping and dining amenities, including the Forum on Peachtree—an outdoor retail center that features 80+ retailers and restaurants—and the new Peachtree Corners Town Center.
C.J. Kelly in the Atlanta 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 $15 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.