Company: NXDT
Filing Date: 2025-01-21
Form Type: 424B3
Source: 0001437749-25-001494
Chunk: 1185

Company: NEXPOINT DIVERSIFIED REAL ESTATE TRUST
Filing Date: 2025-01-21
Form: 424B3
Chunk 1185
---
: James Dondero                    
 Title: President and Principal         
 Executed Officer                       |     |            |

| Address for purposes of notice:       
 NexPoint Strategic Opportunities Fund 
 300 Crescent Court, Suite 700         
 Dallas, Texas 75201                   
 Attention: Matt McGraner              |

| With a copy to:                    
 Wick Phillips                      
 3131 McKinney Avenue               
 Suite 100                          
 Dallas, Texas 75204                
 Attention: D. C. Sauter, Esq.      
 Email: d.c.sauter@wickphillips.com |

<div align='center'>[Signatures continued on next page]</div>

GUARANTY OF RECOURSE OBLIGATIONS - Signature Page

59940-29/Cityplace Tower

<div align='center'>I-889</div>

|                                      |     | GUARANTOR: |
| HCRE PARTNERS, LLC,                  
 a Delaware limited liability company 
 By: /s/ Matt McGraner                
 Name: Matt McGraner                  
 Title: Authorized Signatory          |     |            |

| Address for purposes of notice: 
 HCRE Partners, LLC              
 300 Crescent Court, Suite 700   
 Dallas, Texas 75201             
 Attention: Matt McGraner        |

| With a copy to:                    
 Wick Phillips                      
 3131 McKinney Avenue               
 Suite 100                          
 Dallas, Texas 75204                
 Attention: D. C. Sauter, Esq.      
 Email: d.c.sauter@wickphillips.com |

GUARANTY OF RECOURSE OBLIGATIONS - Signature Page

59940-29/Cityplace Tower

<div align='center'>I-890</div>

For purposes hereof, the following terms shall have the following respective meanings:

"" means, as applied to any Person, any direct or indirect liability, contingent or otherwise, of that Person (but without duplication) (i) with respect to any debt or other obligation of another if the primary purpose or intent thereof by the Person incurring the Contingent Liability is to provide assurance to the obligee of such obligation of another that such obligation of another will be paid or discharged, or that any agreements relating thereto will be complied with, or that the holders of such obligation will be protected (in whole or in part) against loss in respect thereof, (ii) with respect to any letter of credit issued for the account of that Person or as to which that Person is otherwise liable for reimbursement of drawings, (