The offering NexPoint took to market in July was not the one on file when the marketing started. NexPoint Lodging II DST, a Delaware Statutory Trust (DST), noticed a maximum offering amount on May 26, 2026, then came back on July 17, 2026 with a larger one. The launch announcement and the first trade coverage both landed before that amendment.
NexPoint published its launch announcement on July 14, 2026, and it named what neither notice does: hotel properties in Glastonbury, Connecticut, and Bradenton, Florida. AltsWire carried the offering on July 13, 2026, ahead of the company's own release; Hotel Management and Hotel Business followed on July 14, 2026, and Connect Money on July 22, 2026, after the amendment was on file. Rule 506(c) is what makes that order of operations available: the Trust may solicit publicly, and every purchaser has to be a verified accredited investor. A press campaign is not a departure from the exemption. It is the exemption being used.
Item | Form D, May 26, 2026 | Form D/A, July 17, 2026 | Tracked-market median, trailing twelve months |
|---|---|---|---|
Maximum offering amount | $72,452,000 | $81,573,000 | $46,331,389 |
Sales commissions stated | $6,339,550 | $7,137,638 | |
Minimum investment | $100,000 | $100,000 | $100,000 |
Exemption claimed | Rule 506(c) | Rule 506(c) | |
Broker-dealer named | Nexpoint Securities, Inc. | Nexpoint Securities, Inc. |
The minimum held at the tracked median through both notices. The size did not, and the dollar commissions moved up with it. Both notices name the same broker-dealer, Nexpoint Securities, Inc., and neither names a second placement agent, so the whole raise, as disclosed, runs through one channel. A larger-than-median raise sold at an above-median load through a single named distributor is the shape here.
Neither notice describes the debt on the hotels or how the Trust pays; the PPM will carry those terms. The amendment does move the promoter list: NexPoint Lodging II Bradenton Riverfront Manager, LLC appears where OSL Lodging II Investment Co, LLC stood in May, which is the closest either filing comes to naming an asset, and it points at the Florida hotel.
NexPoint runs a conveyor. Its launch announcements since October 2025 cover small-bay industrial in Deerfield Beach and Richardson, multifamily in the Orlando area, Birmingham, and Greensboro, a marina, and now hotels; 6 of its offerings sit in Top1031's active directory of 230. The marina's status is recorded two ways: the sponsor's July 23, 2026 announcement reports NexPoint Marina DST fully subscribed, while the sponsor's DST offerings page, whose asset data is dated March 31, 2026, still lists it as a current open offering. This report relies on the announcement, which is later and speaks to that offering specifically.
As of the amendment, the Trust recorded no investors and no first sale. Its promoter list that day carried a string the parsed record renders as "Paul OSL Lodging III Parent Manager, LLC," a signer's given name run into an entity name, and whatever the clean version reads, it refers to a Lodging III. The pipeline is drawn past this raise before this raise has taken a dollar.