Company: NXDT
Filing Date: 2025-01-21
Form Type: 424B3
Source: 0001437749-25-001494
Chunk: 468

Company: NEXPOINT DIVERSIFIED REAL ESTATE TRUST
Filing Date: 2025-01-21
Form: 424B3
Chunk 468
---
 |        |     | Prime Brokerage Borrowing |       |     | Total |         |
|:-----------|:----|:------------------|--------:|:----|:--------------|-------:|:----|:--------------------------|------:|:----|:------|--------:|
| 2024       |     | $                 | 142,305 |     | $             | 29,000 |     | $                         |     — |     | $     | 171,305 |
| 2025       |     |                   |       — |     |               | 24,250 |     |                           |     — |     |       |  24,250 |
| 2026       |     |                   |       — |     |               |      — |     |                           |     — |     |       |       — |
| 2027       |     |                   |       — |     |               |      — |     |                           |     — |     |       |       — |
| 2028       |     |                   |       — |     |               |      — |     |                           |     — |     |       |       — |
| Thereafter |     |                   |       — |     |               |      — |     |                           | 1,782 |     |       |   1,782 |
| Total      |     | $                 | 142,305 |     | $             | 53,250 |     | $                         | 1,782 |     | $     | 197,337 |

<div align='center'>110

I-115</div>

7. Variable Interest Entities

As of December 31, 2023 and 2022, the Company does not consolidate the investments below as it does not have a controlling financial interest in these investments:

| Entities                                                 |     | Instrument       |     | Asset Type           |     | Percentage Ownership as of December 31, 2023 |       |      |     | Percentage Ownership as of December 31, 2022 |      |   | Relationship as of December 31, 2023 |     | Relationship as of December 31, 2022 |     |
|:---------------------------------------------------------|:----|:-----------------|:----|:---------------------|:----|:---------------------------------------------|------:|:-----|:----|:---------------------------------------------|-----:|:--|:-------------------------------------|:----|:--------------------------------