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NexPoint Fund’s Shareholders Approve REIT Status
Shareholders in Dallas-based NexPoint Strategic Opportunities Fund (NHF), a closed-end fund managed by NexPoint Advisors, approved the proposal to covert the fund from a registered investment company to a REIT. They also voted to amend certain fundamental investment restrictions as part of the business change proposal.
The change to a REIT structure is expected to reduce the fund’s historic discount to net asset value, according to an SEC filing. The business change is also expected to increase NHF’s access to the real estate expertise of NexPoint Advisors and its affiliates.
“We are pleased that shareholders recognized the opportunities in both the REIT structure and the real estate investment landscape,” said James Dondero, president of NexPoint Advisors and the fund’s portfolio manager. “We are grateful for the support of the proposal and look forward to delivering value through this transition.”
NHF will become the fourth publicly traded REIT on the NexPoint platform.
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- ◦Financing