HOUSTON – NexPoint Residential Trust, through its operating partnership, has acquired a two-property, 924-unit apartment portfolio for around $108 million.
The 734-unit Old Farm Apartment Homes and the 190-unit Stone Creek at Old Farm Apartments are on 35.1 contiguous acres. The communities were built in 1998 and 1999, respectively.
The H2 Portfolio acquisition was structured as a reverse 1031 exchange.
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