NEXPOINT RESIDENTIAL TRUST, INC. (NYSE:NXRT) Files An 8-K Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant
Item2.03. Creation of a Direct Financial Obligation or an
Obligation under an Off-Balance Sheet Arrangement
of a Registrant.
On March27, 2017, NexPoint Residential Trust, Inc. (the Company),
through its operating partnership, NexPoint Residential Trust
Operating Partnership, L.P., entered into an interest rate swap
transaction with KeyBank National Association (the Swap). The
Company entered into the Swap to fix a portion of, and mitigate
the risk associated with, the Companys floating rate indebtedness
(without incurring substantial prepayment penalties or defeasance
costs typically associated with fixed rate indebtedness). The
Swap has an effective date of April1, 2017 and a termination date
of April1, 2022. Beginning on May1, 2017, the Company will be
required to make monthly fixed rate payments of 1.95700%
calculated on a notional amount of $100million, while the
counterparty will be obligated to make monthly floating rate
payments based on LIBOR to the Company referencing the same
notional amount. A copy of the Swap confirmation is attached
hereto as Exhibit 10.1 and is incorporated by reference herein.
Item9.01. Financial Statements and Exhibits.
(d) Exhibits.
|
Exhibit Number |
Exhibit Description |
|
| 10.1 |
Confirmation of swap transaction, dated March27, 2017, from KeyBank National Association to NexPoint Residential Trust Operating Partnership, L.P. |
About NEXPOINT RESIDENTIAL TRUST, INC. (NYSE:NXRT)
NexPoint Residential Trust, Inc. is an externally managed real estate investment trust (REIT). The Company’s 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 capex value-add program. It focuses on multifamily investments primarily located in the Southeastern and Southwestern United States. All of its business operations are conducted through NexPoint Residential Trust Operating Partnership, L.P. Its properties include The Miramar Apartments, Arbors on Forest Ridge, Cutter’s Point, Eagle Crest, Meridian, Toscana, The Grove at Alban, McMillan Place Old Farm Apartment Homes, Stone Creek at Old Farm Apartments and Dana Point. It owns approximately 40 properties consisting of over 12,960 units in approximately 10 markets. Its advisor is NexPoint Real Estate Advisors, L.P. NEXPOINT RESIDENTIAL TRUST, INC. (NYSE:NXRT) Recent Trading Information
NEXPOINT RESIDENTIAL TRUST, INC. (NYSE:NXRT) closed its last trading session up +0.12 at 23.36 with 50,630 shares trading hands.
