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NexPoint Waterford DST

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NexPoint Waterford DST is raising $31,360,817 in equity for a 240-unit multifamily community in Greensboro, NC. Total offering capitalization is $61,060,817, including $29,700,000 in fixed-rate debt.

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 4.51%Term avg. 5.99%

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

The property

240-Unit 1997-Vintage Multifamily Asset in Greensboro

$49,500,000 acquisition price

NexPoint Waterford DST

multifamily garden-style apartment development

The Waterford Place multifamily apartment property was developed in 1997.

101 Shore Lake Drive, Greensboro, North Carolina 27455

101 Shore Lake Drive, Greensboro, North Carolina 27455

240 unitsmultifamily garden-style apartment development

$49,500,000

100.0% of portfolio

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

NexPoint Real Estate Advisors IV, L.P.

Asset Type

Multifamily garden-style apartment development

Location

101 Shore Lake Drive, Greensboro, North Carolina 27455

Units

240

Property Age

The Waterford Place multifamily apartment property was developed in 1997.

Offering Price

$61,060,817

Offering Debt

$29,700,000

Offering Equity

$31,360,817

Offering LTV

48.6%

Income % (Yr. 1)

4.51%

Avg. Income (Full Term)

5.99%

Minimum Cash Investment

—

Minimum 1031 Investment

—

Strengths

  • 240-unit multifamily garden-style apartment community
  • Projected full-term average income of 5.99%

Concerns

  • Built in 1997
  • Appraisal represents 83.67% of total offering price