The Securities and Exchange Commission approved the transition of NexPoint Diversified Real Estate Trust from a closed-end fund to a diversified REIT on July 1, according to a company release.

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In a statement Thursday, NexPoint said it would advise a new real estate investment trust that aims to purchase, build and manage single-family rentals.

For NexPoint, the parent of the adviser to one of the largest owners of SFR homes in the U.S., this new initiative will help NexPoint further expand its exposure to SFR.

Year-over-year comparisons show capital raised by reporting nontraded REITs was up 69%.

During the first quarter, for the properties in our Portfolio, we completed 531 full and partial upgrades and leased 489 upgraded units, achieving an average monthly rent premium of $138 and a 26.3% ROI.

"Dr. Swain's experience as both an accomplished business leader and scholar will be beneficial to the Company as we seek to further execute against our long-term business objectives."

On March 17, 2022, Amazon.com Inc. (“Amazon”) announced it had closed its previously announced acquisition of MGM. As a result of the deal closing, NXDT received $43,115,073 in cash, reflecting the Company’s direct ownership of MGM shares.

NexPoint Capital, Inc. is a business development company (“BDC”) managed by NexPoint Advisors, L.P.