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NexPoint Residential Trust unit to buy Fla. multifamily asset for $322M

NexPoint Residential Trust Inc., through a subsidiary, agreed to acquire a 1,520-unit multifamily property in Pembroke Pines, Fla., for about $322.0 million, subject to adjustments.

Separately, the multifamily real estate investment trust agreed to acquire a 346-unit multifamily building in Nashville, Tenn., for $62.3 million, subject to adjustments.

The Pembroke Apartments property was 96.1% occupied as of July 29, and the deal is set to close Aug. 30.