Lightstone Capital Refinances NEXII-Certified Green Manufacturing Plants for U.S. Expansion Plans

$12 million in financing from Lightstone’s real estate debt platform supports expansion of sustainable building solutions and
creation of hundreds of green jobs in the United States

Lightstone Capital, the real estate debt platform of stone of lightannounced today that it has provided a $12 million mortgage loan to support the expansion of green building products manufacturing facilities under Canada-based Nexii Building Solutions’ Nexii Certified Manufacturers (NCMs) program (Nexi).

Lightstone Capital provides sponsors with flexible, creative and immediate financing solutions. Loans rrange in size from $5 million to $100 million and are secured by real estate assets located in entry markets.

Nexii owns and operates corporate factories to manufacture and distribute innovative and sustainable building solutions to help reduce the climate impacts of buildings and construction. Given the urgent demand for green building products, Nexii is also working with independent NCM licensees to develop and operate factories in the United States and Canada. This supports the rapid expansion and supply of sustainable building products, while creating new green jobs in NCM communities.

NCM facilities are owned and operated by independent companies licensed to manufacture sustainable building products made using the designs, processes and Nexiite, a revolutionary and proprietary building material. Nexiite has properties comparable to concrete but does not contain Portland cement, which significantly reduces end-to-end carbon emissions. Nexiite is used in Nexii panels to create sustainable, energy efficient and disaster resistant buildings and renovations.

The first NCM location to open is in Hazleton, PA, developed and operated by NEXUS-1 under John Wolfington and Dan Metzler. Lightstone’s funding supported the NEXUS-1 Hazleton facility, while helping with a second expansion in Commerce, TX. These NEXUS-1 factories immediately bring hundreds of highly skilled green jobs to their regions. Additional jobs are expected to be added in the future as plants scale, while ancillary jobs will also be generated by customer construction projects driven by NEXUS-1.

The Hazleton property is a 180,000 square foot, 13.8 acre Class B industrial/light fabrication flexible construction facility. Located at 101 Carleton Avenue, it recently underwent a capital improvement program of over $3 million in addition to approximately $6 million worth of manufacturing equipment and is now open and operational with more than 100 employees.

The Commerce property is a 309,000 square foot Class B industrial flexible building located at 400 Maple Street on a 47-acre site. The industrial estate property is undergoing an approximately $3.8 million renovation and is expected to be open and operational in the first half of 2022, bringing more than 100 jobs to the community.

“We were delighted to work with Lightstone on this financing and believe they offered the best financial solution with the greatest flexibility to our recently established operating platform. We are excited about the future of our relationship with Lightstone. as we seek funding to continue expanding our business,” said NEXUS-1’s Wolfington.

The deal was processed at Lightstone Capital’s New York office, which is headed by Senior Managing Director Eugene Rozovsky, who heads Lightstone Capital.

“Lightstone Capital was pleased to provide financing to NEXUS-1 for this recapitalization,” Rozovsky said. “We view our borrowers as partners and believe that our flexibility and creativity in structuring this loan will allow us to help them execute their business plan and accelerate operations at their factories.”

Lightstone Capital primarily focuses on senior bridge loans, mezzanine loans and preferred stock investments in the top 50 MSAs in the United States. Since its launch in December 2018, Lightstone Capital has grown rapidly, developing a significant portfolio across the country. Lightstone Capital has expanded by opening offices in Dallas and Los Angeles in 2021.

The NEXUS-1 transaction follows other transactions recently completed by Lightstone Capital, such as:

  • Senior loan of $11.8 million to finance the acquisition of a multifamily property in San Antonio, TX (December 2021).
  • Senior loan of $13.6 million to refinance a multi-family portfolio of 10 properties in Brooklyn, NY (December 2021).
  • Senior loan of $26.5 million to refinance nearly completed commercial property in Queens, NY (November 2021).
  • Senior loan of $9.3 million to refinance a boutique hotel in Venice Beach, California (October 2021).
  • Senior loan of $20.1 million to finance the acquisition of a multifamily property in Houston, TX (September 2021).
  • Senior loan of $18.0 million to refinance a nearly completed multifamily property in Harrison, NY (September 2021).
  • $25.0 million mezzanine loan for the acquisition of an industrial property in San Bernardino County, California (August 2021).
  • $56.5 million condo inventory loan to refinance a largely completed condominium in the Flatiron neighborhood of Manhattan, NY (May 2021).

For more information about Nexii, visit www.nexii.com

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