NexPoint Fully Subscribes $137 Million Semiconductor Manufacturing DST
NexPoint, an alternative investment firm, has fully subscribed its NexPoint Semiconductor Manufacturing DST, after reaching its capital raise goal of $137 million since launching in fall 2023.
The associated property is located in Temecula, Calf., a city within the Riverside County. Temecula is favorably situated, according to the company, with a diverse manufacturing ecosystem and a growing number of companies moving to the area.
“We continue to see positive growth and opportunity in the industry,” said Matt McGraner, NexPoint chief investment officer and executive vice president of the DST sponsor.
The current tenant of the property, Skorpios Technologies Inc., is engaged in both the contract fabrication and next-generation fabrication of semiconductors. The company designs, develops, and manufactures semiconductors in support of the entire silicon manufacturing ecosystem. According to NexPoint, Skorpios contributes to high-speed video, data and voice communications for networking, cloud computing, consumer, medical, and more.
The tenant’s lease has a 15-year initial duration, with extension options, and the building houses manufacturing and production. NexPoint believes that these factors, along with “strong industry tailwinds, high-quality construction, and strategic location, make the property an attractive long-term investment.”
Earlier this month, NexPoint fully subscribed its NexPoint Storage VI DST after raising $45 million in equity since the offering’s launch in January. The DST includes two storage facilities located in Temple Hills, Md., and Nashville, Tenn. Both properties are managed by Extra Space Storage Inc. (NYSE:EXR), the second-largest operator of self-storage facilities in the United States and a leading publicly traded real estate investment trust with a nationwide third-party management platform.
Over the summer, the company also announced the launch of NexPoint Lodging I DST, an approximately $27.9 million DST offering for the Residence Inn located in the West Jordan area of Salt Lake City.
NexPoint is a multibillion-dollar alternative investment firm comprised of a group of investment advisers and sponsors, a broker-dealer, and a suite of related investment vehicles. Its self-storage platform is comprised of an investment portfolio, including wholly-owned and managed vehicles and DSTs, valued in excess of nearly $2 billion.
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