NexPoint Fully Subscribes $45 Million Self-Storage DST
NexPoint, an alternative investment firm, announced that it has fully subscribed its NexPoint Storage VI DST after raising $45 million in equity since the offering’s launch in January.
The Delaware statutory trust 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.
The Class A facilities include the amenities and characteristics associated with what NexPoint refers to as “Generation V” storage – a proprietary classification denoting newer, multi-story, fully climate-controlled facilities with enhanced security, located in areas with above-average household incomes.
“We are grateful to our partners who helped fully subscribe our sixth self-storage offering,” said Matt McGraner, NexPoint chief investment officer and executive vice president of the DST sponsor. “We are excited to continue to provide access to this segment of the self-storage sector.”
Launched in 2015, the Dallas, Texas-based NexPoint focuses on a trio of business areas: mainly real estate, corporate credit and equities, and insurance solutions. Its investment strategies are offered in a range of vehicles and fund structures, including mutual funds, public and private real estate investment trusts, tax-advantaged vehicles, private funds, and separate accounts.
Over the summer, NexPoint announced the launch of NexPoint Lodging I DST, an approximately $27.9 million DST comprising a Residence Inn in the West Jordan area of Salt Lake City. This offering represented NexPoint’s first dedicated hospitality vehicle. Earlier this year, as reported by AltsWire, NexPoint fully subscribed Small Bay II DST, two industrial properties in Orlando, Fla. The offering reached its fundraising goal of $38.8 million following its July 2024 launch.
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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