12:21 PM EST, 03/05/2024 (MT Newswires) -- NexPoint Residential Trust ( NXRT ) said Tuesday it sold a 734-unit property in Houston, Texas, for net proceeds of $49.4 million.

Proceeds will fund a $24 million paydown on NexPoint's corporate credit facility, according to the company. There will be no drawn balance on the $350 million facility after the repayment.

The company said it will take this approach throughout the year to improve balance sheet, repurchase shares and repay debt.

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