NexPoint Hospitality Trust, sponsored by Highland Capital Management L.P., has withdrawn its pre-effective registration statement for a $1.1 billion non-traded real estate investment trust it filed in early 2015. The company decided not to proceed with the offering due to “market conditions.”
NexPoint Hospitality Trust planned to invest in extended stay and select-service hotel properties, and on an opportunistic basis, full-service hotel properties.
The company registered up to $1 billion in Class A and Class T shares of common stock in the primary offering and up to $100 million in distribution reinvestment plan shares. Class A and Class T shares were to be priced at $25.00 and $23.94 each, respectively.
No securities have been issued or sold under the registration statement, which had not been declared effective by the Securities and Exchange Commission.
Highland Capital Management, L.P. is a multi-billion-dollar global alternative investment manager founded in 1993 that serves both institutional and retail investors. In addition to high yield credit, Highland’s investment capabilities include public equities, real estate, private equity and special situations, and structured credit.