DALLAS and TORONTO, Oct. 30,
2023 /CNW/ -- NexPoint Hospitality Trust
("NHT" or the "REIT") (TSX-V: NHT.U) announced today
that it has entered into certain amendments (the
"Amendments") with each of the lenders in respect of the
convertible promissory notes issued by NHT between June 2021 and September
2022 (the "COVID Loans"). For further details on the
Amendments, please see the REIT's management information circular
dated September 11, 2023. The
Amendments, which were made at the request of the TSX Venture
Exchange, constituted related party transactions under Multilateral
Instrument 61-101 – Protection of Minority Security Holders in
Special Transactions, and were approved by the requisite
majority of disinterested unitholders at NHT's annual and special
meeting of unitholders held on October 26,
2023.
About NexPoint Hospitality Trust
NexPoint Hospitality Trust is a publicly traded real estate
investment trust, with its Units listed on the TSX Venture Exchange
under the ticker NHT.U. NHT is principally focused on acquiring,
owning and operating well-located hospitality properties in
the United States that offer a
high current yield and in many cases are underperforming assets
with the potential to increase in value through investments in
capital improvements, a market-based recovery, brand repositioning,
revenue enhancements, operational improvements, expense
inefficiencies, and exploiting excess land or underutilized space.
NHT owns 9 branded properties sponsored by Marriott, Hilton, Hyatt,
and Intercontinental Hotels Group, located across the U.S. NHT is
externally advised by NexPoint Real Estate Advisors VI, L.P.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
Contact:
Investor Relations
IR@nexpoint.com
Media Inquiries
MediaRelations@nexpoint.com
SOURCE NexPoint Hospitality Trust