NexPoint Residential Trust Sells Houston Multifamily Asset For $49.4M Net Proceeds | 2500 Old Farm Road | MultiFamily | Sale

Summary

Sale

TEXAS

MultiFamily

The Old Farm is a 734-unit multifamily property located at 2500 Old Farm Road in Houston. The property was acquired by NexPoint Residential Trust in 2016 for $84.7 million.

Summary of transation details:

Property Type: Multifamily ~ UNITS: 734
Transaction Amount: Approximately $49.4 million in net proceeds
Address: 2500 Old Farm Road, Houston
Seller: Matt McGraner - NexPoint Residential Trust

The sale of the Old Farm property in Houston resulted in $24 million being allocated to pay down NexPoint Residential Trust's corporate credit facility, as part of strategic balance sheet improvement efforts.

Details

Deal Summary

SOLD

IMAGE: Matt McGraner DATE: 03/05/2024 ADDRESS: 2500 Old Farm Road MARKET: Houston ASSET TYPE: Multifamily ~ UNITS: 734 SELLER: Matt McGraner - NexPoint Residential Trust NOTE: NexPoint Residential Trust has closed the sale of Old Farm, a 734-unit property in Houston, acquired in 2016 for $84.7 million. The sale yielded approximately $49.4 million in net proceeds, with $24 million allocated to pay down the company's corporate credit facility as part of its strategic balance sheet improvement efforts.

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Address2500 Old Farm Road

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