Company: NXDT
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001356115-25-000014
Chunk: 148

Company: NEXPOINT DIVERSIFIED REAL ESTATE TRUST
Filing Date: 2025-05-15
Form: 10-Q
Item: Item 6
Chunk 148
---
0 %Non-Same StoreProperty operating expenses6,895 1,528 5,367 N/M(1)Real estate taxes and insurance1,775 1,159 616 N/M(1)Property management fees500 159 341 N/M(1)Property general and administrative expenses1,984 661 1,323 N/M(1)Non-Same Store operating expenses11,154 3,507 7,647 N/M(1)Total operating expenses11,309 3,659 7,650 N/M(1)NOISame Store204 170 34 20.0 %Non-Same Store3,623 245 3,378 N/M(1)Total NOI$3,827 $415 $3,412 N/M(1)

(1)Denotes that the significant percentage change in the current period comparison is primarily attributed to the consolidation of NHT.

See reconciliation of net income (loss) to NOI above under “Consolidated NOI and Same Store NOI for the Three Months Ended March 31, 2025 and 2024.”

51

Consolidated Same Store Results of Operations for the Three Months Ended March 31, 2025 and 2024

As of March 31, 2025, our Same Store properties were approximately 52.1% leased with a weighted average monthly effective occupied rent per square foot of $1.10, compared to 51.5% leased with a weighted average monthly effective occupied rent per square foot of $1.21 as of March 31, 2024. For our Same Store properties, we recorded the following operating results for the three months ended March 31, 2025 and 2024.

Revenues

Rental Income. Rental income was $358.8 thousand for the three months ended March 31, 2025, compared to $321.6 thousand for the three months ended March 31, 2024, which is an increase of approximately $37.3 thousand or 11.5%. The majority of the increase between the three months ended March 31, 2025 and the three months ended March 31, 2024 is related to a decrease in the amortization of above- and below-market leases. Above-market leases decrease rental income as they are amortized, while below-market leases increase rental income.

Expenses

Property operating expenses. Property operating expenses were