Offering Summary — DST Underwriting

NexPoint Life Sciences III DST offers $30,661,253 in equity to fund a $61,961,253 total offering price. The single asset is a 137,811 square foot R&D facility in Woodbury, Minnesota.

Capital structure

Offering Equity$30.36M50.6% · $121,449 / unit

Offering Debt$29.64M

Offering price

$60.0M

Price / unit

$240,000

Units

250

Property age

12 yrs

Projected distribution rate

Avg 6.75%

Yr 1Term avg.

Yr 1 4.18%Term avg. 4.06%

Year-one distribution of 6.25% stepping to 7.20% by year seven.

The property

137,811 SF Medical Device R&D Facility in Woodbury, MN

$57,750,000 acquisition price

NexPoint Life Sciences III DST

medical device research and development facility

11200 Hudson Road, Woodbury, Minnesota 55129

137,811 unitsmedical device research and development facility

$57,750,000

100.0% of portfolio

Seller: —
Property manager: NexPoint Real Estate Advisors IV, L.P.

Sponsor

NexPoint Real Estate Advisors IV, L.P.

Asset Type

Medical device research and development facility

Location

11200 Hudson Road, Woodbury, Minnesota 55129

Units

137,811

Property Age

—

Offering Price

$61,961,253

Offering Debt

—

Offering Equity

$30,661,253

Offering LTV

50.52%

Income % (Yr. 1)

4.18%

Avg. Income (Full Term)

4.06%

Minimum Cash Investment

—

Minimum 1031 Investment

—

Strengths

Fixed financing structure with 9-year maturity.
Clear capitalization with $30,661,253 equity and $31,300,000 debt.

Concerns

Total offering price exceeds the October 2023 appraised value.
Single-tenant specialized R&D asset profile.