As most of you likely know commercial mREIT Nexpoint Real Estate Finance (NREF) has priced a new issue of $25/share fixed rate preferred stock.
The issue is cumulative, but non qualified for preferential tax treatment. The issue comes with a 8.50% coupon–and is being sold for $24/share.
As indicated by the coupon this is a risky issue–NREF was just formed last year and had it’s IPO earlier in 2020. Investors with interest should do some good due diligence on this commercial mREIT.