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Dondero’s NexPoint Targets More Than $1 Billion for New Wager on Single-Family Rentals

Company’s effort to acquire newer homes follows earlier bet on VineBrook’s older properties.

NexPoint Advisors, the alternative investment platform founded by Jim Dondero, is extending its bet on single-family rentals as rising mortgage rates threaten to cool demand for homebuying, creating new opportunities for landlords to acquire properties.

Dallas-based NexPoint is seeding a newly formed vehicle with $250 million in equity and debt to buy houses, according to people familiar with the matter. NexPoint, which has raised $1 billion for single-family rental owner VineBrook Homes Trust, aims to exceed that amount for the new vehicle, the people said.

A representative for NexPoint declined to comment on the fundraising effort.