DALLAS--(BUSINESS WIRE)--
NexPoint Residential Trust, Inc. (NYSE: NXRT) ("NXRT" or the "Company")
announced today that Arthur Laffer and James Dondero have been appointed
as members of its board of directors. Mr. Laffer was also appointed
Chairman of the Compensation Committee, and Mr. Dondero was appointed
Chairman of the Board.
“Mr. Laffer is one of the industry’s most prolific minds and Mr. Dondero
is our co-founder with over 30 years of proven industry experience,”
Brian Mitts, Chief Financial Officer of NXRT said. “We are excited to
have the opportunity to bring these two high-quality individuals onto
our board of directors and we look forward to seeing the added value and
expertise they can bring to our team.”
Dr. Arthur Laffer is the founder and chairman of Laffer Associates, an
economic research and consulting firm. A former member of President
Reagan's Economic Policy Advisory Board during the 1980s, Dr. Laffer's
economic acumen and influence have earned him the distinction in many
publications as The Father of Supply-Side Economics. He has served on
several boards of directors of public and private companies, including
staffing company MPS Group, Inc., which was sold to Adecco Group for
$1.3 billion in 2009. Dr. Laffer was previously a consultant to
Secretary of the Treasury William Simon, Secretary of Defense Donald
Rumsfeld, and Secretary of the Treasury George Shultz. In the early
1970s, Dr. Laffer was the first to hold the title of Chief Economist at
the Office of Management and Budget (OMB) under Mr. Shultz.
Additionally, Dr. Laffer was formerly the Distinguished University
Professor at Pepperdine University and a member of the Pepperdine Board
of Directors. He also served as Charles B. Thornton Professor of
Business Economics at the University of Southern California and as
Associate Professor of Business Economics at the University of Chicago.
Laffer is credited with advancing the concept of supply-side economics
when he drew a curve on the back of a napkin at a dinner meeting,
showing that government tax receipts can sometimes increase when federal
income tax rates are lowered. The Laffer Curve and supply-side economics
served as the foundation for Reaganomics in the 1980s when Dr. Laffer
served on the President's Economic Policy Advisory Board from 1981 to
1989. Dr. Laffer has been recognized for his achievements in economics,
having been featured in Time Magazine's 1999 cover story, The Century's
Greatest Minds, for inventing the Laffer Curve, which Time deemed one of
a few of the advances that powered this extraordinary century.
James Dondero serves as the Company’s President. He is also the
co-founder and president of Highland Capital Management, L.P., founder
and president of NexPoint Advisors, L.P. and chairman of NexBank, an
affiliated bank that is majority owned by Mr. Dondero. Highland Capital
Management, NexPoint Advisors and NexBank are all affiliates of NexPoint
Real Estate Advisors, the Company’s Advisor. Mr. Dondero co-founded
Highland Capital Management in 1993 with Mark Okada. Highland and its
affiliates currently manage approximately $21 billion in assets as of
March 31, 2015. Mr. Dondero has over 30 years of experience investing in
credit and equity markets and has helped pioneer new credit asset
classes. Prior to founding Highland, Mr. Dondero served as Chief
Investment Officer of Protective Life’s GIC subsidiary and helped grow
the business from concept to over $2 billion from 1989 to 1993. His
portfolio management experience includes mortgage-backed securities,
investment grade corporates, leveraged bank loans, emerging markets,
derivatives, preferred stocks and common stocks.
About NexPoint Residential Trust
NexPoint Residential Trust is a publicly traded REIT, with its shares
listed on the New York Stock Exchange under the symbol “NXRT,” primarily
focused on acquiring, owning and operating well-located middle-income
multifamily properties with “value-add” potential in large cities and
suburban submarkets of large cities, primarily in the Southeastern and
Southwestern United States. NXRT is externally advised by NexPoint Real
Estate Advisors, L.P., an affiliate of Highland Capital Management,
L.P., a leading global alternative asset manager and an SEC-registered
investment adviser. More information about NXRT is available at http://www.NexPointLiving.com.
Highland Capital Management, L.P.
Investor Relations:
Brian
Mitts, 972-419-2556
[email protected]
or
Public
Relations:
Daniel Martin, 972-419-6293
[email protected]
Source: NexPoint Residential Trust, Inc.