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NexPoint Residential Trust closes $322M Fla. apartment asset acquisition

NexPoint Residential Trust Inc. wrapped up its purchase of a 1,520-unit apartment property in Pembroke Pines, Fla., for about $322.0 million.

The multifamily real estate investment trust also closed its roughly $289.9 million sale of The Pointe at the Foothills in Phoenix; Belmont at Duck Creek in Garland, Texas; The Ashlar and Heatherstone in Dallas; Edgewater at Sandy Springs in Georgia; and Abbington Heights in Antioch, Tenn.