Company: NXDT
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001628280-25-052132
Chunk: 24

Company: NEXPOINT DIVERSIFIED REAL ESTATE TRUST
Filing Date: 2025-11-13
Form: 10-Q
Item: Item 2
Chunk 24
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, 2024. For the properties in our Same Store pool for the nine months ended September 30, 2025 and 2024, we recorded the following operating results for the nine months ended September 30, 2025 and 2024.

Revenues

Rental Income. Rental income was $1,292.0 thousand for the nine months ended September 30, 2025, compared to $1,071.5 thousand for the nine months ended September 30, 2024, which is an increase of approximately $221.0 thousand or 20.6%. The majority of the increase between the nine months ended September 30, 2025 and the nine months ended September 30, 2024 is due to an increase in occupancy at White Rock Center.

Expenses

Property operating expenses. Property operating expenses were $189.0 thousand for the nine months ended September 30, 2025, compared to $126.2 thousand for the nine months ended September 30, 2024, which was an increase of approximately $63.0 thousand or 50.0%. The majority of the increase between the nine months ended September 30, 2025 and the nine months ended September 30, 2024 is related to an increase in repair and maintenance fees.

Real estate taxes and insurance. Real estate taxes and insurance costs were $216.0 thousand for the nine months ended September 30, 2025, compared to $211.3 thousand for the nine months ended September 30, 2024, which was an increase of approximately $5.0 thousand or 2.4%. The majority of the increase between the nine months ended September 30, 2025 and the nine months ended September 30, 2024 is related to an increase in the property tax budget.

Property management fees. Property management fees were $65.0 thousand for the nine months ended September 30, 2025, compared to $57.8 thousand for the nine months ended September 30, 2024, which was an increase of approximately $7.0 thousand, or 12.1%. The increase between the nine months ended September 30, 2025 and the nine months ended September 30, 2024 is related to an increase in rental revenue, which the management fee is calculated off of. 

Property general and administrative expenses. Property general and administrative expenses were $19.0 thousand for the nine months ended September 30,