Loan & DebtJun 9, 2026, 04:27 PM
NexPoint Residential Trust OP Buys $27.2M Waterford Loan
AI Summary
NexPoint Residential Trust Operating Partnership (OP) entered into a Loan Purchase and Sale Agreement with NexBank Capital, Inc., acquiring the Waterford Loan for $27.2 million. This transaction marks the company's initial deployment of capital in its Delaware statutory trust (DST) bridge-lending program. The Waterford Loan offers a fixed interest rate of 10.00% per annum and matures in January 2028, providing a significant spread over the company's cost of funds and contractual repayment through DST syndication proceeds. The purchase was funded by the company's existing revolving credit facility, and the OP assumed the role of successor lender and administrative agent.
Key Highlights
- NexPoint Residential Trust OP purchased the Waterford Loan for $27.2 million.
- The Waterford Loan bears a fixed interest rate of 10.00% per annum, compounded monthly.
- The loan has a stated maturity date of January 14, 2028, with a 364-day extension option.
- Proceeds from the Waterford Loan financed the acquisition of Waterford Place, a 240-unit multifamily property.
- The purchase price was 100% of the outstanding principal balance plus accrued interest.
- The Sponsor has sponsored over $4 billion in DST equity since 2017.
- NexBank Capital is obligated to repurchase the loan if material breaches of representations and warranties occur.
Price Impact
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