Company: NXDT
Filing Date: 2025-01-21
Form Type: 424B3
Source: 0001437749-25-001494
Chunk: 302

Company: NEXPOINT DIVERSIFIED REAL ESTATE TRUST
Filing Date: 2025-01-21
Form: 424B3
Chunk 302
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 | Dallas, Texas  |     | Real Estate Other     |
| 5916 W Loop 289             |     | 7/23/2013  |     |       4,019 |     |        — |     |          3,833 |     | Lubbock, Texas |     | Real Estate Other     |
| Total                       |     |            |     |    $277,669 |     | $155,555 |     |       $137,383 |     |                |     |                       |

| Real Estate Equity Method Investments                    |     | Ownership Percentage |     |   |     | Investment Type      |     | Net Equity (1) |         |     | Location |
|:---------------------------------------------------------|:----|---------------------:|:----|:--|:----|:---------------------|:----|---------------:|--------:|:----|:---------|
| VineBrook Homes Operating Partnership, L.P.              |     |                 11.2 |     | % |     | Single-Family Rental |     |              $ | 146,516 |     | Various  |
| NexPoint Real Estate Finance Operating Partnership, L.P. |     |                 15.6 |     | % |     | Diversified          |     |         76,688 |         |     | Various  |
| NexPoint Storage Partners, Inc.                          |     |                 52.9 |     | % |     | Self-Storage         |     |         68,187 |         |     | Various  |

<div align='center'>2

I-7</div>

| NexPoint SFR Operating Partnership, L.P.          
 NexPoint Storage Partners Operating Company, LLC. 
 NexPoint Real Estate Finance, Inc.                
 AM Uptown Hotel, LLC                              
 Las Vegas Land Owner, LLC                         
 Sandstone Pasadena Apartments, LLC                
 SFR WLIF III, LLC                                 
 NexPoint Hospitality Trust                        
 LLV Holdco, LLC                                   
 Total                                             
 Other Real Estate Common Equity                   |     |             30.8 
             30.0 
             12.0 
             60.0 
             76.8 
             50.0 
             20.0 
             46.2 
             26.8 
     Shares/Units |     | % 
 % 
 % 
 % 
 % 
 % 
 % 
 % 
 % | (2) 
 (3) |