NexPoint Multifamily Realty Trust Lowers Fees, Breaks Escrow
NexPoint Multifamily Realty Trust Inc., a publicly registered non-traded real estate investment trust, announced that its board of directors unanimously approved to amend the dealer manager agreement and reduce certain fees associated with the sale of class A and class T shares.
The revised agreement between the company, Highland Capital Funds Distributor and NexPoint Real Estate Advisors II reduces the company’s dealer manager fee from 3 percent to 1 percent, and reduces the payment of organization and offering expenses from 1.5 percent to 1 percent.
NexPoint Multifamily Realty Trust commenced its $1.1 billion offering in August 2015. On March 24, 2016, an affiliate of the advisor contributed $2 million and the company broke escrow. To date, the company has raised $2.2 million and has not yet acquired any real estate assets.
