NexPoint Residential Trust, Inc. Refinances Debt on 17 Properties Through J.P. Morgan Chase Bank

NexPoint Residential Trust, Inc. (NYSE: NXRT) announced on November 26, 2024, that it has successfully refinanced the existing debt on 17 properties. The refinancing involved entering into 17 new loan agreements with J.P. Morgan Chase Bank.

The terms of the Loan Agreements include details on each property such as the type, term in months, outstanding principal, interest rate, and maturity date. The refinancing closed on November 26, 2024, with a finalized 7-year term refinance on each property at the Secured Overnight Financing Rate (SOFR) plus a 1.09% margin.

Some of the properties involved in the refinancing include Arbors on Forest Ridge, Cutter’s Point, The Summit at Sabal Park, Courtney Cove, The Preserve at Terrell Mill, Versailles, Seasons 704 Apartments, and others. The total outstanding principal for all properties covered under the refinancing amounts to $655,880, with a fixed interest rate of 5.68%.

The Loan Agreements consist of standard provisions including representations and warranties, affirmative and negative covenants, events of default, and other customary agreements as per current agency forms. Each loan is secured by mortgages on the respective properties.

This refinancing represents a strategic move by NexPoint Residential Trust, Inc. to manage its financial obligations effectively and optimize its debt structure.

Brian Mitts, the Chief Financial Officer, Executive VP-Finance, Secretary, and Treasurer of NexPoint Residential Trust, Inc., signed the report on behalf of the company on November 27, 2024.

The seamless completion of this refinancing showcases the company’s proactive approach to maintaining a strong financial position amidst evolving market conditions. Investors are keen on observing the impact of this refinancing on NexPoint Residential Trust, Inc.’s financial performance moving forward.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read NexPoint Residential Trust’s 8K filing here.

NexPoint Residential Trust Company Profile

NexPoint Residential Trust is a publicly traded REIT, with its shares listed on the New York Stock Exchange under the symbol “NXRT,” 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.