Company: NXDT
Filing Date: 2025-01-21
Form Type: 424B3
Source: 0001437749-25-001494
Chunk: 469

Company: NEXPOINT DIVERSIFIED REAL ESTATE TRUST
Filing Date: 2025-01-21
Form: 424B3
Chunk 469
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 NexAnnuity Holdings, Inc.                                |     | Preferred Shares |     | Annuities            |     |                                              | 100.0 | %(1) |     |                                              |  N/A |   | VIE                                  |     |                                      | N/A |

(1) The Company owns 100% of the preferred stock of NexAnnuity Holdings, Inc., but it does not own any of the outstanding common stock of NexAnnunity Holdings, Inc.

Consolidated VIEs

The Company did not have any consolidated VIEs as of and for the years ended December 31, 2023 and 2022.

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8. Equity Method Investments

Below is a summary of the Company’s equity method investments as of December 31, 2023 (dollars in thousands):

| Investee Name                          |     | Instrument   |     | Asset Type           |     | NXDT Percentage Ownership |      |      |     | Investment Basis |        |    |     | Share of Investee's Net Assets (1) |        |   |     | Basis Difference (2) |        |   |     | Share of Earnings (Loss) |       |   |
|:---------------------------------------|:----|:-------------|:----|:---------------------|:----|:--------------------------|-----:|:-----|:----|:-----------------|-------:|---:|:----|:-----------------------------------|-------:|:--|:----|:---------------------|-------:|:--|:----|:-------------------------|------:|:--|
| Sandstone Pasadena Apartments, LLC     |     | LLC interest |     | Multifamily          |     |                           | 50.0 | %    |     | $                | 11,458 |    |     | $                                  | (9,590 | ) |     | $                    | 21,048 |   |     | $                        |     — |   |
| AM Uptown Hotel, LLC                   |     | LLC interest |     | Hospitality          |     |                           | 60.0 | %(3) |     |                  | 23,158 |    |     |                                    | 17,581 |   |     |                      |  5,577 |   |     |                          |  (426 | ) |
| SFR WLIF III, LLC                      |     | LLC interest |