NXT Capital Funds Acquisition Loan in Phoenix

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.