NXT Capital recently closed a $38MM first mortgage commitment secured by a 14 building flex-office portfolio located in Jacksonville, Florida. The 678,500 square foot cross-collateralized portfolio allowed the sponsor to refinance the existing debt while providing additional funds for future leasing through property cash flow.

The transaction fits NXT's credit criteria based on:

• Excellent sponsorship in Taurus Investment Holdings (TIH). TIH is a 30 year old real estate investment firm with a portfolio of roughly 9.8 million square feet of commercial real estate.
• The project has over 60% physical occupancy with positive in-place net cash flow.
• Strong structure including the ability to take advantage of a discounted loan payoff.
• Experienced property management and leasing group with a strong local presence.

The loan was placed through Saul Hoppenstein and James Elmore from the Boca Raton office of Tavernier Capital Partners.

NXT Capital provides structured financing solutions to middle-market clients through its Corporate Finance and Real Estate Finance groups, originating transactions directly on a national basis.