Company: NREF
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001786248-25-000010
Chunk: 83

Company: NexPoint Real Estate Finance, Inc.
Filing Date: 2025-05-12
Form: 10-Q
Item: Item 8
Chunk 83
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 Company reclassified this investment from a mezzanine loan to senior loan effective April 1, 2024 because there was and as of March 31, 2025 there is, no senior mortgage on the property collateralized by the loan.

(6)The CMBS B-Pieces are shown on an unconsolidated basis reflecting the value of our investments.

(7)The number shown represents the notional value on which interest is calculated for the CMBS I/O Strips. CMBS I/O Strips receive no principal payments and the notional value decreases as the underlying loans are paid off.

(8)The mezzanine loan term was extended effective April 9, 2025 to May 16, 2025.

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(9)The Company, through the Subsidiary OPs, invested $1.1 million in the year ended December 31, 2024 in this preferred equity investment.

(10)Real Estate is a 204-unit multifamily property. As of March 31, 2025, the property was 96.1% occupied, with effective rent per occupied unit of $1,796 per month.

(11)Real Estate is a 280-unit multifamily property. As of March 31, 2025, the property was 98.2% occupied with effective rent per occupied unit of $1,597 per month.

The following table details overall statistics for our portfolio as of March 31, 2025 (dollars in thousands):

TotalPortfolioFloating RateInvestmentsFixed RateInvestmentsCommon EquityInvestmentsReal Estate InvestmentsNumber of investments85205572Principal balance (1)$1,152,310$432,198$720,112N/AN/ACarrying value$1,407,273$431,148$755,126$57,531 $120,895 Weighted-average cash coupon7.05 %10.03 %5.27 %N/AN/AWeighted-average all-in yield9.32 %11.82 %7.89 %N/AN/A

(1) Cost is used in lieu of notional value for CMBS I/O Strips.

                                                                                                                                                                                                                                                           Liquidity and Capital Resources

Our short-term liquidity requirements consist primarily of funds necessary to pay for our ongoing commitments to repay borrowings, maintain our investments, make distributions to our stockholders and other general business needs. Our investments generate liquidity on an ongoing basis through principal and interest