Chicago-based NXT Capital has provided an acquisition loan to acquire Esplanade III, a 218,000 square foot, class-A office building located in Phoenix, Arizona. The loan totals $59.4 million.

Esplanade III is located in the prestigious Camelback Corridor at the prominent corner of Camelback Road and 24th Street, nine miles north of downtown Phoenix and Sky Harbor Airport. The property features a two-story lobby with marble/granite finishes and stunning mountain views of Piestawa Peak, the Phoenix skyline, and Camelback Mountains.

Bruce Francis, Katie Diaz, Tim Bokinsky and Dana Summers from the Phoenix office of CBRE placed the loan with NXT Capital.

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.