NexPoint Residential Trust Inc
For the period ended Dec 31, 2024. Filed Feb 26, 2025.
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FY2024 · Filed Feb 26, 2025
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Item 2. Properties
As of December 31, 2024, our Portfolio consisted of 35 properties representing 12,984 units in seven states. The following table provides a summary of the properties in our Portfolio as of December 31, 2024:
| Properties by State | Location | Numberof Units | DateAcquired | PurchasePrice(in thousands) | Average EffectiveMonthly RentPer Unit (1) | % Occupied(2) | Number ofUnitsRehabbed (3) | RehabExpendituresper Unit (4) |
|---|---|---|---|---|---|---|---|---|
| Texas | ||||||||
| Arbors on Forest Ridge | Bedford, Texas | 210 | 1/31/2014 | $12,805 | $1,121 | 98.6% | 157 | $4,402 |
| Cutter's Point | Richardson, Texas | 196 | 1/31/2014 | 15,845 | 1,370 | 98.5% | 131 | 6,732 |
| Versailles | Dallas, Texas | 388 | 2/26/2015 | 26,165 | 1,130 | 96.1% | 296 | 6,164 |
| Venue at 8651 | Fort Worth, Texas | 333 | 10/30/2015 | 19,250 | 1,160 | 95.5% | 286 | 7,009 |
| Atera Apartments | Dallas, Texas | 380 | 10/25/2017 | 59,200 | 1,487 | 95.0% | 215 | 3,419 |
| Versailles II | Dallas, Texas | 242 | 9/26/2018 | 24,680 | 1,064 | 96.7% | 56 | 5,632 |
| Summers Landing | Fort Worth, Texas | 196 | 6/7/2019 | 19,396 | 1,198 | 95.4% | 58 | 11,415 |
| Florida | ||||||||
| The Summit at Sabal Park | Tampa, Florida | 252 | 8/20/2014 | 19,050 | 1,370 | 94.4% | 209 | 5,864 |
| Courtney Cove | Tampa, Florida | 324 | 8/20/2014 | 18,950 | 1,249 | 92.9% | 249 | 4,974 |
| Sabal Palm at Lake Buena Vista | Orlando, Florida | 400 | 11/5/2014 | 49,500 | 1,671 | 94.0% | 77 | 13,114 |
| Cornerstone | Orlando, Florida | 430 | 1/15/2015 | 31,550 | 1,435 | 94.4% | 452 | 4,950 |
| Seasons 704 Apartments | West Palm Beach, Florida | 222 | 4/15/2015 | 21,000 | 1,818 | 95.0% | 188 | 7,836 |
| Parc500 | West Palm Beach, Florida | 217 | 7/27/2016 | 22,421 | 1,879 | 96.3% | 212 | 14,650 |
| Avant at Pembroke Pines | Pembroke Pines, Florida | 1,520 | 8/30/2019 | 322,000 | 2,199 | 95.3% | 580 | 17,848 |
| Residences at West Place | Orlando, Florida | 342 | 7/17/2019 | 55,000 | 1,586 | 95.0% | 117 | 11,892 |
| Nevada | ||||||||
| Bella Solara | Las Vegas, Nevada | 320 | 11/22/2019 | 66,500 | 1,328 | 93.1% | 113 | 11,232 |
| Bloom | Las Vegas, Nevada | 528 | 11/22/2019 | 106,500 | 1,276 | 94.7% | 142 | 14,115 |
| Torreyana Apartments | Las Vegas, Nevada | 316 | 11/22/2019 | 68,000 | 1,444 | 95.9% | 52 | 13,435 |
| Georgia | ||||||||
| The Preserve at Terrell Mill | Marietta, Georgia | 752 | 2/6/2015 | 58,000 | 1,282 | 94.3% | 719 | 11,370 |
| Rockledge Apartments | Marietta, Georgia | 708 | 6/30/2017 | 113,500 | 1,488 | 94.3% | 440 | 11,091 |
| The Adair | Sandy Springs, Georgia | 232 | 4/1/2022 | 65,500 | 1,995 | 91.4% | 140 | 11,904 |
| Tennessee | ||||||||
| Brandywine I & II | Nashville, Tennessee | 632 | 9/26/2018 | 79,800 | 1,204 | 94.6% | 525 | 10,808 |
| Arbors of Brentwood | Nashville, Tennessee | 346 | 9/10/2019 | 62,250 | 1,458 | 93.1% | 141 | 10,251 |
| Residences at Glenview Reserve | Nashville, Tennessee | 360 | 7/17/2019 | 45,000 | 1,248 | 95.3% | 259 | 13,544 |
| Arizona | ||||||||
| Madera Point | Mesa, Arizona | 256 | 8/5/2015 | 22,525 | 1,311 | 93.8% | 255 | 4,535 |
| The Venue on Camelback | Phoenix, Arizona | 415 | 10/11/2016 | 44,600 | 981 | 92.8% | 271 | 10,266 |
| Bella Vista | Phoenix, Arizona | 248 | 1/28/2019 | 48,400 | 1,712 | 89.9% | 198 | 10,537 |
| The Enclave | Tempe, Arizona | 204 | 1/28/2019 | 41,800 | 1,782 | 93.6% | 162 | 10,392 |
| The Heritage | Phoenix, Arizona | 204 | 1/28/2019 | 41,900 | 1,676 | 94.6% | 174 | 9,637 |
| Fairways at San Marcos | Chandler, Arizona | 352 | 11/2/2020 | 84,480 | 1,574 | 95.7% | 136 | 13,667 |
| Estates on Maryland | Phoenix, Arizona | 330 | 4/1/2022 | 77,900 | 1,430 | 95.5% | 110 | 13,250 |
| North Carolina | ||||||||
| The Verandas at Lake Norman | Charlotte, North Carolina | 264 | 6/30/2021 | 63,500 | 1,343 | 98.1% | 66 | 12,376 |
| Creekside at Matthews | Charlotte, North Carolina | 240 | 6/30/2021 | 58,000 | 1,423 | 95.8% | 83 | 10,957 |
| Six Forks Station | Raleigh, North Carolina | 323 | 9/10/2021 | 74,760 | 1,359 | 93.2% | 123 | 12,784 |
| High House at Cary | Cary, North Carolina | 302 | 12/7/2021 | 93,250 | 1,498 | 92.1% | 107 | 13,517 |
| Total | 12,984 | $2,032,977 | $1,491 | 94.7% | 7,499 | $10,123 | ||
(1)
Average effective monthly rent per unit is equal to the average of the contractual rent for commenced leases as of December 31, 2024 minus any tenant concessions over the term of the lease, divided by the number of units under commenced leases as of December 31, 2024.
(2)
Percent occupied is calculated as the number of units occupied as of December 31, 2024, divided by the total number of units, expressed as a percentage.
(3)
Inclusive of all full and partial interior upgrades completed.
(4)
Inclusive of all full and partial interior upgrades completed and leased as of December 31, 2024.
(5)
Includes the 36 downed units excluded from our 2023-2024 Same Store pool (see Note 4 to our consolidated financial statements).
For additional information regarding our Portfolio, see Notes 3 and 4 to our consolidated financial statements.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.