NexPoint Residential Trust, Inc. Completes the Sale of Old Farm and Will Repay the Full Outstanding Balance on the Corporate Credit Facility [Yahoo! Finance]
NexPoint Residential Trust, Inc. (NXRT)
Last nexpoint residential trust, inc. earnings: 2/18 07:00 am
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Source: Yahoo! Finance
of Old Farm in Houston, TX , a 734-unit property built in 1996. The property was acquired for $84.7 million on December 29, 2016 and has provided consistent operational and cash flow performance for the portfolio for the last 7+ years. As of March 1, 2024 , the property was 91.41% leased with a weighted average effective monthly rent of approximately . Net proceeds from the sale were approximately $49.4M , delivering a trailing nominal tax and insurance adjusted cap rate of 5.36%, a 22.14% levered internal rate of return and a 2.98x multiple on invested capital, each of which well exceeded expectations. The Company will use a portion of the net proceeds from the sale to make a million paydown on the Company's corporate credit facility on March 5, 2024 , continuing the Company's strategic de-leveraging and balance sheet improvement initiatives. This repayment will take the drawn balance on the facility to , leaving $350 million of undrawn and available capacity. "NXRT is pleased to a
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News
- NexPoint Residential Trust, Inc. Completes the Sale of Radbourne Lake Apartment Homes [Yahoo! Finance]Yahoo! Finance
- NexPoint Residential Trust, Inc. Completes the Sale of Radbourne Lake Apartment HomesPR Newswire
- NexPoint Residential Trust: Attractive Valuation Despite The Risks [Seeking Alpha]Seeking Alpha
- NexPoint Residential Trust, Inc. (NYSE:NXRT) Q1 2024 Earnings Call Transcript [Yahoo! Finance]Yahoo! Finance
- NEXPOINT RESIDENTIAL TRUST, INC. REPORTS FIRST QUARTER 2024 RESULTSPR Newswire
NXRT
Earnings
- 4/30/24 - Beat
NXRT
Sec Filings
- 5/3/24 - Form 10-Q
- 5/1/24 - Form 144
- 4/30/24 - Form 8-K
- NXRT's page on the SEC website