Company: NXDT
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001356115-25-000003
Chunk: 289

Company: NEXPOINT DIVERSIFIED REAL ESTATE TRUST
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1
Chunk 289
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 $12.8 million for the year ended December 31, 2024, compared to $8.0 million for the year ended December 31, 2023, which was an increase of approximately $4.8 million. The increase between periods was primarily due to an increase in accounting and audit fees.

Conversion expenses. Conversion expenses were $0.0 million for the year ended December 31, 2024, compared to $1.2 million for the year ended December 31, 2023, which was a decrease of approximately $1.2 million. The decrease between the periods was primarily due to a decrease in expenses related to the Business Change. 

Depreciation and amortization. Depreciation and amortization costs were $15.6 million for the year ended December 31, 2024, compared to $13.9 million for the year ended December 31, 2023, which was an increase of approximately $1.7 million. This change reset the depreciable basis of our properties as well as caused the recognition of new intangible lease assets. The increase between the periods was primarily due to the NHT consolidation.

Impairment loss. Impairment loss was $7.1 million for the year ended December 31, 2024, compared to $0.0 for the year ended December 31, 2023, which was an increase of approximately $6.1 million. The increase between the periods was due to an increase in impairment charges relating to the Addison Property, Plano Homewood Suites and Las Colinas Homewood Suites.

Other Income and Expense

Interest expense. Interest expense was $28.4 million for the year ended December 31, 2024, compared to $15.9 million for the year ended December 31, 2023, which was an increase of approximately $12.5 million. The increase between the periods was primarily due to the NHT consolidation. 

Equity in income (losses) of unconsolidated ventures. Equity in losses of unconsolidated ventures was $0.1 million for the year ended December 31, 2024, compared to $(0.3) million for the year ended December 31, 2023, which was an increase of approximately $0.4 million. The decrease between periods was primarily due to a decrease in net income at Marriott Uptown.

Income tax expense (benef