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NXT Capital gets financial boost as ORIX completes acquisition of lender

NXT’s real estate division funds multifamily, office, student housing, more

NXT Capital, a lender that provides financing for the acquisition of multifamily, office, retail, industrial, hotel, student housing, and other corporate dealings, has more financial backing to grow it business now that the company is under the umbrella of ORIX Corp. USA.

ORIX USA announced Wednesday that it completed the acquisition of NXT Capital. The acquisition was originally announced in July.

With the acquisition complete, NXT Capital joins Boston Financial Investment ManagementLancaster PollardMariner Investment GroupRB Capital and RED Capital Group as companies in ORIX’s growing empire.

NXT, which has originated approximately $20 billion in total financing across more than 600 transactions in corporate and real estate finance since its founding in 2010, will operate as a subsidiary of ORIX.

NXT offers first mortgage and junior capital products from $10 million to $75 million. The company is based in Chicago, has offices in Atlanta, Dallas, Los Angeles, Nashville, New York and Phoenix, and serves approximately 75 metro areas.

“NXT Capital is now a strategic part of ORIX USA’s asset management and middle-market growth engine,” Hideto Nishitani, ORIX USA chairman, president and CEO, said. “We are fortunate to add NXT Capital to our team, which will bolster our reputation as a hybrid middle-market lender and asset manager.”

NXT Capital will continue to be based in its current headquarters, and Robert Radway will remain in his role of chairman and CEO for the company.

According to ORIX, more than 115 NXT Capital employees will join Orix, bringing ORIX’s total employment to more than 1,000 people spread across more than 30 offices across the U.S. and Brazil.

ORIX USA and its family of companies currently has $63 billion of assets under management, administration and servicing, and now the company has NXT Capital in its family of subsidiaries as well.

“Our two companies complement each other very well,” Radway said. “ORIX brings further scale and financial strength to NXT Capital with its larger portfolio of products, services and international presence. This provides an enhanced platform for NXT Capital to achieve continued growth and profitability.”

As part of the deal, ORIX’s leveraged finance business unit, which underwrites growth financings, recapitalizations, leveraged buyouts, acquisitions and more, will be integrated with NXT Capital’s corporate finance unit.

The companies say this move buffers ORIX’s overall middle-market financing capability.

Financial terms of the deal were not disclosed.

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