Company: NXDT
Filing Date: 2025-01-21
Form Type: 424B3
Source: 0001437749-25-001494
Chunk: 543

Company: NEXPOINT DIVERSIFIED REAL ESTATE TRUST
Filing Date: 2025-01-21
Form: 424B3
Chunk 543
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Acknowledgement</div>

On behalf of (Name of Brokerage Firm) and myself, I acknowledge the foregoing instructions with regard to the holdings of (Name of Insider) and his/her related parties holdings of securities of NexPoint Diversified Real Estate Trust and signify my agreement to comply with them.

Date_____/_____/_____
Name of Broker

C-1

<div align='center'>I-338</div>

Exhibit 21.1

<div align='center'>List of Subsidiaries of the Registrant</div>

| Subsidiary                                                         |     | Jurisdiction of Organization |
| Entegra-NHF Holdco, LLC                                            |     | Delaware                     |
| NexPoint Diversified Real Estate Trust OP GP, LLC                  |     | Delaware                     |
| NexPoint Diversified Real Estate Trust Operating Partnership, L.P. |     | Delaware                     |
| NexPoint Dominion Land, LLC                                        |     | Delaware                     |
| NexPoint Real Estate Capital, LLC                                  |     | Delaware                     |
| NexPoint Real Estate Opportunities, LLC                            |     | Delaware                     |
| NHF TRS, LLC                                                       |     | Delaware                     |

<div align='center'>I-339</div>

Exhibit 23.1

| KPMG LLP              
 Suite 1400            
 2323 Ross Avenue      
 Dallas, TX 75201-2721 |

<div align='center'>Consent of Independent Registered Public Accounting Firm</div>

We consent to the incorporation by reference in the registration statement No. 333-269602 on Form S-8 of our reports dated March 13, 2024, with respect to the consolidated financial statements of NexPoint Diversified Real Estate Trust and the effectiveness of internal control over financial reporting.

Dallas, Texas
March 13, 2024

| KPMG LLP, a Delaware limited liability partnership and a member firm of     
 the KPMG global organization of independent member firms affiliated with    
 KPMG International Limited, a private English company limited by guarantee. |

<div align='center'>I-340</div>

Exhibit 23.2

<div align='center'>CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM</div>

We hereby consent to the incorporation in the registration statement No. 333-269602 on Form S-8 of our report dated March 10, 2022, relating to the financial statements of NexPoint Diversified Real Estate Trust, for the year ended December