Company: NXDT
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001356115-25-000021
Chunk: 113

Company: NEXPOINT DIVERSIFIED REAL ESTATE TRUST
Filing Date: 2025-08-14
Form: 10-Q
Item: Item 5
Chunk 113
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The six months ended June 30, 2025 as compared to the six months ended June 30, 2024

The following table sets forth a summary of our operating results for the six months ended June 30, 2025 as compared to the six months ended June 30, 2024 (in thousands):  

For the Six Months Ended June 30,20252024$ ChangeTotal revenues$50,108 $35,079 $15,029 Total expenses(44,709)(34,217)(10,492)Operating income5,3998624,537Interest expense(13,913)(12,382)(1,531)Equity in income (losses) of unconsolidated ventures(167)(958)791Income tax expense(572)(853)281Change in unrealized gains (losses)(74,959)3,136(78,095)Realized gains (losses)4,981(21,875)26,856Gains on sales of real estate37—37Net loss(79,194)(32,070)(47,124)Net (income) attributable to Series A preferred shareholders(2,310)(2,310)—Net (income) attributable to Series B preferred shareholders(30)— (30)Net loss attributable to noncontrolling interests1,945 1,894 51 Net loss attributable to redeemable noncontrolling interests in the OP20 — 20 Net income (loss) attributable to common shareholders$(79,569)$(32,486)$(47,103)

The net loss for the six months ended June 30, 2025 increased by $47.1 million as compared to the six months ended June 30, 2024. The increase between periods primarily relates to mark-to-market losses on our investments accounted for at fair value partially offset by an increase to total revenues.

Revenues

Rental income. Rental income was $7.4 million for the six months ended June 30, 2025, compared to $8.0 million for the six months ended June 30, 2024, which was a decrease of approximately $0.6 million. The decrease between the periods was primarily due to a decrease in occupancy at Cityplace Tower.

Rooms revenue. Rooms revenue was $16.6 million for the six months ended June 30, 2025, compared to $8.2 million for the six months