Company: NXDT
Filing Date: 2025-01-21
Form Type: 424B3
Source: 0001437749-25-001494
Chunk: 443

Company: NEXPOINT DIVERSIFIED REAL ESTATE TRUST
Filing Date: 2025-01-21
Form: 424B3
Chunk 443
---
 |
| Net cash provided by operating activities                                                                                   |     |                                   |   36,336 |   |
| Cash flows from financing activities:                                                                                       |     |                                   |          |   |
| Payments on notes payable                                                                                                   |     |                                   |  (26,500 | ) |
| Distributions paid in cash                                                                                                  |     |                                   |   (9,714 | ) |
| Proceeds from shares sold                                                                                                   |     |                                   |    1,288 |   |
| Proceeds from dividend reinvestment                                                                                         |     |                                   |      (44 | ) |
| Net cash used in financing activities                                                                                       |     |                                   |  (34,970 | ) |
| Net increase in cash                                                                                                        |     |                                   |    1,366 |   |
| Cash, cash equivalents and restricted cash:                                                                                 |     |                                   |          |   |
| Beginning of period                                                                                                         |     |                                   |    2,678 |   |
| End of period                                                                                                               |     | $                                 |    4,044 |   |

<div align='center'>93

I-98</div>

| Supplemental disclosure of cash flow information                     |     |   |       |
|:---------------------------------------------------------------------|:----|:--|------:|
| Reinvestment of distributions                                        |     | $ | 1,425 |
| Cash paid during the period for interest expense and commitment fees |     | $ |   614 |

<div align='center'>See Notes to Consolidated Financial Statements

94

I-99

NEXPOINT DIVERSIFIED REAL ESTATE TRUST AND SUBSIDIARIES

CONSOLIDATED STATEMENT OF CASH FLOWS (Predecessor Basis)

(in thousands)</div>

|                                                                                               |     | For the Year Ended December 31, 
 2021                            |          |   |
|:----------------------------------------------------------------------------------------------|:----|:--------------------------------|---------:|:--|
| Cash flows from operating activities:                                                         |     |                                 |          |   |
| Net increase in net assets resulting from operations                                          |     | $                               |  245,455 |   |
| Adjustments to reconcile increase in net assets to net cash provided by operating activities: |     |                                 |          |   |
| Purchases of investment securities from unaffiliated issuers                                  |     |                                 | (690,913 | ) |
| Purchases of investment securities from affiliated issuers                                    |     |                                 | (