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NexPoint Residential Trust, Inc. ("NXRT" or the "Company") (NYSE: NXRT) announced today the closing of the sale of Radbourne Lake Apartment Homes in Charlotte, NC, a 225-unit property built in 1991. The property was acquired for $24.3 million on September 30, 2014, and has provided consistent operational and cash flow performance for the portfolio for the last 9+ years. As of April 30, 2024, the property was 92.4% leased with a weighted average effective monthly rent of approximately $1,420, which is 58.5%, or $524, higher than it was upon takeover. Net proceeds from the sale were approximately $18.6M, delivering a trailing nominal tax and insurance adjusted cap rate of 5.18%, a 19.24% levered internal rate of return and a 3.64x multiple on invested capital, each of which well exceeded expectations.