NexPoint Residential Trust Inc (NYSE:NXRT) Q4 2019 Earnings Conference Call - Final Transcript
Feb 18, 2020 • 11:00 am ET
cap rates in Nashville, Willow Grove and Woodbridge for $63 million. Buyer is non-refundable, closing is expected to occur on March 31. We're negotiating the contract on Southpoint Reserve for $23.5 million with a target close date sometime in second quarter, approximately June.
In closing, I wanted to reiterate that we're excited about 2020, as Brian said, and we'll work hard to generate another year of 5% to 7% NOI growth and double-digit earnings growth.
That's all I have for prepared remarks. Thanks to our team here at NexPoint and VH for continuing to execute.
Thanks, Matt. So, before we turn it over to questions, there's one question we've seen in some of the notes, early notes this morning, that I'll go ahead address here. You've seen some changes within our rental income and other income from prior periods. That's a result of implementation of ASC 842, which is the new lease standard. So, we did implement that in 2019 and restated those numbers on a retrospective basis. There will be more detail in the 10-K on that when it's filed.
So, with that, let me turn it over to the operator to take questions.