NexPoint Residential uses sale proceeds for $17 million paydown

By William Gullotti

Buffalo, N.Y., Dec. 18 – NexPoint Residential Trust, Inc. used $17 million of the $24.5 million net proceeds from the sale of its Timber Creek property unit to pay down its corporate credit facility on Dec. 15, according to a press release on Monday.

The transaction cuts the outstanding facility balance to $24 million.

According to the press release, the payment is the latest of a series of deleveraging and balance sheet improvement initiatives, marking a 92.8% reduction in the facility balance since Sept. 30, 2022.

The real estate investment trust is affiliated with Highland Capital, a Dallas-based investment management firm.

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