Company: NXDT
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001356115-25-000014
Chunk: 5

Company: NEXPOINT DIVERSIFIED REAL ESTATE TRUST
Filing Date: 2025-05-15
Form: 10-Q
Item: Item 8
Chunk 5
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 NHT’s unitholders voted to approve the NHT Merger. Subsequent to March 31, 2025, on April 17, 2025, the Company consummated the NHT Merger in accordance with the NHT Merger Agreement.The accumulated cost of the NHT Acquisition was allocated to the acquired assets and liabilities based on their relative fair values as of April 10, 2024, as follows (in thousands):

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Table of Contents

 DescriptionLand$22,673 Buildings and improvements128,616 Construction in progress3,613 Furniture, fixtures, and equipment12,722 Investments, at fair value5,000 Cash and cash equivalents38,467 Restricted cash5,065 Prepaid and other assets4,001 Right-of-use asset1,465 Interest-rate cap1,064 Mortgages payable(114,640)Notes payable(70,529)Accounts payable and other accrued liabilities(21,826)Accrued real estate taxes(1,233)Identifiable Net Assets Acquired$14,458 

3. Summary of Significant Accounting Policies

Basis of AccountingReaders of this Quarterly Report on Form 10-Q ("Quarterly Report") should refer to the audited financial statements and notes to consolidated financial statements of the Company for the year ended December 31, 2024, which are included in our 2024 Annual Report on Form 10-K ("2024 Annual Report"), filed with the SEC and also available on our website (nxdt.nexpoint.com), since we have omitted from this Quarterly Report certain footnote disclosures which would substantially duplicate those contained in such audited financial statements. You should also refer to Note 3, Summary of Significant Accounting Policies, in the notes to consolidated financial statements in our 2024 Annual Report for further discussion of our significant accounting policies and estimates. Information contained on, or accessible through, our website is not incorporated by reference into and does not constitute a part of this Quarterly Report or any other report or documents we file or furnish with the SEC.Reclassification of Prior Year Activity on the Consolidated Statement of Cash Flows Certain reclassifications have been made within the consolidated statements of cash flows to proceeds from asset redemptions, proceeds from sale of investments, and proceeds from paydowns of investments for the three months ended March 31, 2024 to be comparative to the consolidated statement of cash flows for the three months ended March 31, 202