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NexPoint Residential Trust enters interest rate swap transaction

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NexPoint Residential Trust enters interest rate swap transaction

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

The swap will be effective Sept. 1 and end Sept. 1, 2026.

Starting Oct. 1, the multifamily real estate investment trust will make monthly fixed-rate payments of 1.3020% calculated on a notional amount of $125.0 million, while the counterparty will be obligated to make monthly floating-rate payments based on the one-month London interbank offered rate to the company referencing the same notional amount.