Deals
Highland Capital Is Close to $300 Million Rental-Home Deal
- Firm is said in contract to buy homes from Magnetar Capital
- Acquisition is planned through NexPoint Real Estate affiliate
Photographer: Andrew Harrer/Bloomberg
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Highland Capital Management LP, the asset manager founded by Jim Dondero and Mark Okada, is under contract to buy a portfolio of single-family rental homes managed by VineBrook Partners LLC for more than $300 million, according to people with knowledge of the deal.
Highland, which operates a diverse set of investment strategies including high-yield credit and real estate funds, is acquiring the homes through its affiliate NexPoint Real Estate Advisors LP from Magnetar Capital LLC. Highland intends to commit additional capital to further expand its rental-home portfolio beyond the acquisition, said the people, who asked not to be identified because the matter isn’t public.