NexPoint Hospitality Trust Inc., a new unincorporated open-ended real estate investment trust, plans to go public on the Toronto Stock Exchange.
The REIT applied to list an undisclosed number of its units on the Canadian bourse under the symbol NHT, at a price to the public of US$15.00 apiece.
The REIT was established to acquire, renovate and operate a portfolio of hotel properties in the U.S. Through its NHT Operating Partnership LLC subsidiary, the trust will indirectly own 11 hotel properties in the U.S. that will be leased to its taxable subsidiaries in order to qualify as a real estate investment trust for U.S. federal income tax purposes.
The REIT will be managed by NexPoint Real Estate Advisors VI LP, and its initial hotel portfolio will be managed by affiliates of Aimbridge Hospitality Holdings LLC.
Raymond James Ltd. will be the agent for the IPO.