NexPoint Residential Trust Inc. entered into an interest-rate swap deal with KeyBank NA through NexPoint Residential Trust Operating Partnership LP to mitigate the risk related to its floating-rate debt.

The swap became effective Jan. 3, and it will end Sept. 1, 2026.

The multifamily real estate investment trust will make monthly fixed-rate payments of 1.609% starting Feb. 1, while the counterparty will make monthly floating-rate payments based on one-month London interbank offered rate, in each case calculated on a notional amount of $92.5 million.