Company: NREF
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001786248-25-000004
Chunk: 464

Company: NexPoint Real Estate Finance, Inc.
Filing Date: 2025-03-27
Form: 10-K
Item: Item 9A
Chunk 464
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)%Unsecured notes, net(17,674)(223,401)7.91 %(13,952)(207,697)6.72 %(3,722)26.7 %Asset specific financing(2,216)(57,661)3.84 %— —  N/A (2,216)N/ATotal interest expense$(44,371)$(772,948)5.74 %$(51,560)$(1,209,385)4.26 %$7,189 (13.9)%Net interest income (4)$28,136 $16,798 $11,338 67.5 %

(1)Average balances for the senior loans, the mezzanine loans and preferred equity are calculated based upon carrying values.

(2)Yield calculated on an annualized basis.

(3)Senior loans, held-for-investment include our SFR Loans.

(4)Net interest income is calculated as the difference between total interest income and total interest expense.

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Table of Contents

The year ended December 31, 2023 as compared to the year ended December 31, 2022

The following table presents the components of net interest income for the years ended December 31, 2023 and 2022 (dollars in thousands):

For the Year Ended December 31,20232022Interest income/(expense)AverageBalance (1)Yield (2)Interest income/(expense)AverageBalance (1)Yield (2)$ Change% ChangeInterest incomeSFR Loans, held-for-investment$27,259 $712,592 3.83 %$43,946 $746,111 5.89 %$(16,687)(38.0)%Mezzanine loans, held-for-investment14,191 144,536 9.82 %15,464 157,789 9.80 %(1,273)(8.2)%Preferred equity, held-for-investment19,641 165,674 11.86 %9,263 102,471 9.04 %10,378 112.0 %Convertible bond, held-for-investment— N/AN/A2,545 47,821 5.32 %(2,545)-100.0 %CMBS structured pass through certificates, at fair value2,218 43,824 5.06