NexPoint Bets on Greensboro's Boom with New Real Estate Offering

GREENSBORO, NC – March 24, 2026 – Dallas-based alternative investment firm NexPoint is planting a new flag in North Carolina, launching a real estate investment vehicle tied to a Greensboro apartment community. The move signals growing investor confidence in the city's burgeoning economy, which is being supercharged by massive corporate investments in aerospace and advanced manufacturing.

NexPoint announced the launch of NexPoint Waterford DST, a Delaware statutory trust, which offers accredited investors fractional ownership in Waterford Place, a 240-unit garden-style apartment complex on the shores of Lake Jeanette. While the offering itself is a private placement, the firm's public bet on Greensboro highlights a broader trend of capital flowing into mid-sized Southeastern cities that are rapidly transforming into economic powerhouses.

A Region Transformed by Investment

Greensboro's appeal is rooted in a fundamental economic shift. The Greensboro–High Point Metropolitan Statistical Area (MSA) is no longer just a quiet corner of the Piedmont Triad; it's a magnet for talent and industry. The region has seen steady population growth, with net in-migration averaging over 4,300 people annually since 2020, a notable increase from the previous five-year period. This influx is supported by a resilient job market that has consistently added jobs each year since 2011.

The primary driver of this boom is a wave of historic corporate investment. The most significant is JetZero's plan to build a $4.7 billion manufacturing facility at the Piedmont Triad International Airport. The project, set to break ground in the second quarter of 2026, promises to create over 14,500 jobs by 2036—the largest single job creation announcement in North Carolina's history. These roles are expected to carry an average annual salary of over $89,000, far exceeding the county's current average and promising a dramatic economic uplift.

Adding to the momentum is Toyota's multibillion-dollar commitment to a new battery manufacturing plant in nearby Liberty, NC, further cementing the region's status as a hub for advanced manufacturing and technology. This diversified economic base, which also includes strong healthcare and logistics sectors, provides a durable foundation for growth and, crucially for investors like NexPoint, for sustained housing demand.

The Rise of the DST Investment Model

The vehicle NexPoint has chosen for its Greensboro investment, the Delaware Statutory Trust (DST), is itself part of a major trend in real estate finance. DSTs have surged in popularity, allowing investors to buy a beneficial interest in a professionally managed portfolio of properties, often of an institutional grade that would be out of reach for individuals.

For many, the primary appeal is tax deferral. DSTs are structured to be compatible with Section 1031 of the Internal Revenue Code, which allows investors to defer capital gains taxes when selling an investment property by reinvesting the proceeds into a "like-kind" property. A DST qualifies, offering a passive alternative to the hands-on burden of finding and managing a new physical property. This has made them particularly popular with retiring real estate owners looking to transition from active management—the proverbial "tenants, toilets, and trash"—to a more passive income stream.

The market has grown exponentially. Equity raised for DST offerings climbed to nearly $5.66 billion in 2024, a 12% increase from the prior year. Industry forecasts project that figure could swell to over $10 billion by the end of 2026, with multifamily and industrial properties remaining the most sought-after asset classes. However, these investments are not without risk. They are typically illiquid, meaning capital is tied up for the life of the trust, and investors cede all operational control to the sponsor firm in exchange for passive ownership.

NexPoint's Bet on Southeast Fundamentals

NexPoint's launch of the Waterford DST is a calculated move within this broader context. The firm has a well-established track record in the space, having successfully funded six different DSTs in the 12 months ending in late 2025, raising approximately $337 million across sectors like life sciences, self-storage, and semiconductor manufacturing. The Greensboro offering represents a strategic pivot into a high-growth multifamily market.

"Waterford DST reflects our conviction in high‑growth Southeast markets supported by strong fundamentals, durable renter demand, and meaningful opportunities for operational enhancement," said Matt McGraner, NexPoint's Chief Investment Officer and Executive Vice President, in the company's announcement.

The property itself, Waterford Place, features large floorplans averaging 1,155 square feet and amenities designed for modern renters. However, the investment enters a complex local market. Greensboro's multifamily sector has seen a surge in new construction, pushing the apartment vacancy rate to 7.8% in late 2024, up from a low of 4.3% three years prior. With over 1,500 new units completed in 2024 and another 2,300 projected to come online in a single quarter of 2027, the market is absorbing a significant supply shock.

Despite the rising vacancy, long-term demand projections remain robust. Forecasts indicate a need for nearly 3,000 new rental units over the next three years, driven by the job growth from projects like JetZero's. NexPoint is betting that the region's powerful economic trajectory will more than absorb the new supply, rewarding investors who get in now.

Greensboro's Proactive Plan for Growth

The tidal wave of investment and population growth presents both an opportunity and a challenge for Greensboro. Rapid expansion can strain infrastructure and, most critically, housing affordability. Local leaders, however, are not sitting idle.

Acknowledging the pressures, the City of Greensboro has launched an ambitious housing initiative dubbed the "Road to 10,000." The program's goal is to facilitate the creation of 10,000 new housing units by 2030 to meet the coming demand. The initiative aims to support a mix of housing types at all price points, from market-rate apartments like Waterford Place to more affordable single-family homes. Early results are promising; within seven months of its launch, the city reported that over 2,100 new homes had already been approved or completed, putting the program ahead of schedule.

City planners are focused on encouraging "gentle density increases" and infill development to accommodate growth without sacrificing community character. This proactive stance is designed to ensure that the economic boom benefits the entire community and that Greensboro can sustain its growth trajectory by providing the housing necessary for its expanding workforce. By actively managing its expansion, the city hopes to build a framework that can support both new residents and new investments for years to come.