NexPoint Multifamily Capital Trust Announces First Distribution
August 5, 2016 | by Beth Glavosek | Blue Vault
Dallas-based NexPoint Multifamily Capital Trust, Inc. (NMCT) has declared its first distribution to stockholders. The daily distributions will accrue to Class-A stockholders of record as of the close of business on each day of the period from August 1, 2016 through August 31, 2016 at a rate of $0.00164 per share of Class-A common stock per day. These distributions equal an aggregate of $0.05 per share of Class-A common stock for the period from August 1, 2016 to August 31, 2016, and are payable on August 31, 2016.
Declared effective with the SEC on August 12, 2015, NMCT is a nontraded hybrid REIT that employs both equity and preferred equity strategies. The REIT is focused on acquiring, owning, operating, and selectively developing and lending to well-located “core” and “core-plus” multifamily properties in large cities and suburban markets, primarily in the Southeastern and Southwestern United States. NMCT is externally advised by NexPoint Real Estate Advisors II, L.P., an affiliate of Highland Capital Management, L.P.
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