Company: NXDT
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001356115-25-000003
Chunk: 965

Company: NEXPOINT DIVERSIFIED REAL ESTATE TRUST
Filing Date: 2025-03-31
Form: 10-K
Item: Item 9C
Chunk 965
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 comparing them against ranges that were independently developed using publicly available market data for comparable properties

•assessing the appropriateness of the market rent assumptions by comparing them to comparable transactions and current listings of comparable properties

•determining the appropriateness of the discount applied to net asset value by comparing it to industry data available for comparable publicly traded companies

/s/ KPMG LLP

We have served as the Company’s auditor since 2022.

Dallas, Texas 

March 31, 2025

98

NEXPOINT DIVERSIFIED REAL ESTATE TRUST AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

(in thousands, except share and par value amounts)

December 31, 2024December 31, 2023ASSETS Consolidated Real Estate InvestmentsLand$62,227 $47,708 Buildings and improvements312,200 206,213 Intangible lease assets10,979 10,979 Construction in progress24,689 19,177 Furniture, fixtures, and equipment10,124 362 Right-of-use assets ($712 and $0 with related parties, respectively)2,176 — Total Gross Consolidated Real Estate Investments422,395 284,439 Accumulated depreciation and amortization(35,002)(20,525)Total Net Consolidated Real Estate Investments387,393 263,914 Real estate held for sale29,890 — Total Net Real Estate Investments417,283 263,914 Investments, at fair value ($493,909 and $533,065 with related parties, respectively)643,432 691,238 Equity method investments ($407 and $7,079 with related parties, respectively)54,429 66,263 Investments in DSTs ($30,559 and $0, with related parties, respectively)30,559 — Cash and cash equivalents8,791 20,608 Restricted cash40,110 32,561 Accounts receivable, net4,463 4,347 Prepaid and other assets ($7,315 and $3,586 with related parties, respectively)17,500 10,431 Accrued interest and dividends5,495 6,078 Interest rate caps159 — Deferred tax asset, net2,618 2,896 Total Assets$1,224,839 $1,098,336 LIABILITIES AND E