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mREIT Nexpoint Real Estate Finance Prices New Preferred

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.

The pricing term sheet can be read here.

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