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NexPoint Residential Buys One Houston Apartment Complex, Selling Another One

HOUSTON – NexPoint Residential Trust, a Dallas-based REIT, has reported on two multifamily trades in the Houston area.

NexPoint acquired Hollister Place, a 260-unit property in Houston, Texas, for $24.5 million, Realty News Report has learned. The project is located in Northwest Houston, near Highway 290 and West Little York at 6565 Hollister Street.

One the sale side, the company is selling off a 240-unit multifamily project in Seabrook, a municipality in southeast Harris County near Galveston Bay.

The project, named Regatta Bay Apartments, is located at 2555 N Repsdorph Road. NexPoint is carrying the Regatta Bay on its books with a value of $17.2 million. The sale is expected to close in June.

May 3, 2017 Realty News Report Copyright 2017

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