NexPoint Residential Trust, Inc. and Highland Capital Management, L.P. acquired The Fairways Apartments in Chandler from Virtu Investments, LLC for $84.5 million.
November 05, 2020
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NexPoint Residential Trust, Inc. (NYSE:NXRT) and Highland Capital Management, L.P. acquired The Fairways Apartments in Chandler from Virtu Investments, LLC for $84.5 million on November 6, 2020. KeyBank Real Estate Capital delivered $46.5 million in new debt for the deal. Cliff David and Steve Gebing of Institutional Property Advisors advised on the sale and procured the buyer, NexPoint Real Estate Advisors..
NexPoint Residential Trust, Inc. (NYSE:NXRT) and Highland Capital Management, L.P. completed the acquisition of The Fairways Apartments in Chandler from Virtu Investments, LLC on November 6, 2020.
NexPoint Residential Trust, Inc. is a real estate investment trust (REIT). The Company is primarily focused on acquiring, owning and operating well-located middle-income multifamily properties with value-add potential in large cities and suburban submarkets of large cities, primarily in the Southeastern and Southwestern United States. The Companyâs investment objectives are to maximize the cash flow and value of properties owned, acquire properties with cash flow growth potential, provide quarterly cash distributions and achieve long-term capital appreciation for its stockholders through targeted management and a value-add program. The Company may allocate up to 30% of the portfolio to investments in real estate-related debt and securities with the potential for high current income or total returns. These allocations may include first and second mortgages and subordinated, bridge, mezzanine, construction and other loans. It is externally managed by NexPoint Real Estate Advisors, L.P.
NexPoint Residential Trust, Inc. and Highland Capital Management, L.P. acquired The Fairways Apartments in Chandler from Virtu Investments, LLC for $84.5 million.
NEXPOINT RESIDENTIAL TRUST, INC. 
