Company: NREF
Filing Date: 2025-10-01
Form Type: 424B5
Source: 0001437749-25-030192
Chunk: 8

Company: NexPoint Real Estate Finance, Inc.
Filing Date: 2025-10-01
Form: 424B5
Chunk 8
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 Series B Cumulative Redeemable Preferred Stock will be offered through our dealer manager on a reasonable best efforts basis, at a public offering price of $25.00 per share.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
 The dealer manager for this offering is NexPoint Securities, an affiliate of our Manager. The dealer manager is not required to sell any specific number or dollar amount of shares of Series B Preferred Stock, but will use its “reasonable best efforts” to sell the shares of Series B Preferred Stock in this offering. The minimum permitted purchase is generally $5,000 but purchases of less than $5,000 may be made in the sole discretion of the dealer manager. This offering will terminate on the earlier of the date we sell all remaining 3,482,858 shares of Series B Preferred Stock and December 29, 2026 (which is the third anniversary of the effective date of the 2023 Registration Statement of which this Prospectus Supplement, the Prior Prospectus Supplement and the Prospectus form a part), which may be extended by our Board in its sole discretion. Our Board may elect to terminate this offering at any time. 
 Investing in our securities involves significant risks. Before deciding to invest in our securities, please carefully read the section entitled “Risk Factors” herein, in the Prior Prospectus Supplement and Prospectus and the risk factors described in our Annual Report on Form 10-K for the year ended December 31, 2024 and our other periodic reports filed with the SEC and incorporated by reference herein.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
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| NYSE Symbols                           |     | Shares of our common stock are listed on the NYSE and NYSE Texas under the symbol “NREF.” There is no established public trading market for the offered shares of Series B Preferred Stock and we do not expect a market to develop. We do not intend to apply for a listing of the Series B Preferred Stock on any national securities exchange.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |

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RISK FACTORS</div>

Investing in our securities involves significant risks. You should carefully review the risks and uncertainties described below and under the section titled“Risk Factors”in the Prior Prospectus Supplement and our Annual Report on Form 10-K for the year ended December 31, 2024, filed with the SEC on March 27, 2025, and any risk factors set forth