DALLAS and TORONTO, Aug. 11, 2023 /CNW/ -- NexPoint Hospitality Trust (TSX-V: NHT.U) announced today that, in connection with the previously disclosed process to market its Holiday Inn Express hotel property in Nashville, Tennessee (the "Tennessee Property"), its subsidiary NHT Nashville, LLC, ( the "Seller") has entered into an agreement for purchase and sale of real property with NF V Acquisitions, LLC ("the Buyer") for the sale of the Tennessee Property.
The Buyer will, at closing, pay US$120,000,000 in cash for the real and personal property that comprises the Tennessee Property. Closing of the transaction is subject to the review of the TSX Venture Exchange and is expected to be completed in the third quarter of 2023.No finder's fee will be payable in connection with the sale. Proceeds of the transaction will be used to repay indebtedness related to the Tennessee Property and to potentially fund future acquisitions of real property.
About NexPoint Hospitality Trust
NexPoint Hospitality Trust is a publicly traded real estate investment trust, with its Units listed on the TSX Venture Exchange under the ticker NHT.U. NHT is externally advised by NexPoint Real Estate Advisors VI, L.P. For more information, visit www.nht.nexpoint.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For Further Information:
Kristen Thomas
Investor Relations
IR@nexpoint.com
Brian Mitts
Chief Financial Officer
214.276.6300
BMitts@nexpoint.com
Media Inquiries
MediaRelations@nexpoint.com
SOURCE NexPoint Hospitality Trust
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