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.
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SOURCE NexPoint Hospitality Trust
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