NexPoint Residential Trust is a mortgage REIT that originates, structures and invests in first-lien mortgage loans, mezzanine loans, preferred equity, convertible notes, and residential real estate securities across multifamily, single-family rental, self-storage, industrial and life science properties, primarily in top metropolitan areas. The company targets stabilized properties and sectors where its experienced management team has operating expertise, using a flexible investment strategy designed to generate risk-adjusted returns across varying market conditions. It is externally managed by an SEC-registered investment advisor and pays its manager a base fee of 0.75% annually on equity plus an incentive fee of 15% on quarterly equity increases above 2.5%.