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NexPoint Gets Busy in Houston
NexPoint Residential Trust, a Dallas-based REIT, is busy buying and selling in the Houston area. The company recently acquired the 260-unit Hollister Place at 6565 Hollister St. from selling entity USA Hollister Place Ltd. for $24.5 million. And, it’s selling off the 240-unit Regatta Bay Apartments, in a transaction anticipated to close in June 2017.
Hollister Place, which delivered in the late 1990s on Houston’s northwest side, offers an on-site business and fitness center, a club house, coffee bar, swimming pool and reserved covered parking and garages.
Meanwhile, in Seabrook, TX, NexPoint bought Regatta Bay Apartments, at 2555 N. Repsdorph Rd., in 2014. The asset, which delivered in the early 2000s, has a swimming pool and waterfall, extra storage, a fitness center, resident business center and covered parking. A selling price was undisclosed, with the Harris Central Appraisal District valuing the asset at $23 million.
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