Company: NXDT
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001628280-25-052132
Chunk: 22

Company: NEXPOINT DIVERSIFIED REAL ESTATE TRUST
Filing Date: 2025-11-13
Form: 10-Q
Item: Item 2
Chunk 22
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5, compared to $118.7 thousand for the three months ended September 30, 2024, which was an increase of approximately $12.0 thousand or 10.1%. The majority of the increase between the three months ended September 30, 2025 and the three months ended September 30, 2024 is related to an increase in the property tax budget.

Property management fees. Property management fees were $56.0 thousand for the three months ended September 30, 2025, compared to $52.3 thousand for the three months ended September 30, 2024, which was an increase of approximately $4.0 thousand, or 7.7%. The increase between the three months ended September 30, 2025 and the three months ended September 30, 2024 is related to an increase in rental revenue, which the management fee is calculated off of. 

Property general and administrative expenses. Property general and administrative expenses were $179.0 thousand for the three months ended September 30, 2025, compared to $239.5 thousand for the three months ended September 30, 2024, which was a decrease of approximately $61.0 thousand. The decrease between the three months ended September 30, 2025 and the three months ended September 30, 2024 is related to a decrease in professional fees.

65

Consolidated NOI for Our Same Store and Non-Same Store Properties for the Nine Months Ended September 30, 2025 and 2024

The following table reflects the revenues, property operating expenses and NOI for the nine months ended September 30, 2025 and 2024 for our Same Store and Non-Same Store properties (dollars in thousands):

For the Nine Months Ended September 3020252024$ Change% ChangeRevenuesSame StoreRental income$1,292 $1,071 $221 20.6 %Same Store revenues1,292 1,071 221 20.6 %Non-Same StoreRental income7,682 11,408 (3,726)-32.7 %Other income882 1,307 (425)-32.5 %(1)Rooms21,389 15,480 5,909 38.2 %Food and beverage2,192 1,345 847 N/MNon-Same Store revenues32,145 29,540 2,605