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Aflac Invests $75 Million in NXT Capital

NXT Will Manage a Portfolio of Aflac's CRE Loans
January 31, 2018
Supplemental insurer Aflac Inc. (NYSE:AFL) has increased its stake in CRE financing provider NXT Capital by $75 million.

As part of the expanded relationship, NXT Capital will manage a portfolio of commercial real estate mortgage loans for Aflac.

Last spring, Aflac Global Investments, Aflac's asset management subsidiary, committed to fund a portfolio of up to $2 billion commercial real estate loans in the U.S., including purchasing $1.1 billion in mid-market commercial property loans from NXT over the next five years.

In addition to middle-market corporate loans, NXT Capital's arrangement with Aflac will now include access to NXT's commercial real estate lending platform, said Robert Radway, NXT Capital's chairman and CEO.

NXT Capital's two most recent deals announced this month include a $30 million first mortgage loan to refinance Ardmore & 28th, a newly constructed 165-unit apartment community in Atlanta; and a $20 million first mortgage loan to finance the acquisition of 118 units within Monteverde Apartments, a 219-unit community in Boynton Beach, FL.

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