Company: NXDT
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001628280-25-052132
Chunk: 58

Company: NEXPOINT DIVERSIFIED REAL ESTATE TRUST
Filing Date: 2025-11-13
Form: 10-Q
Item: Item 4
Chunk 58
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,216 $(4,757)Total expenses(20,788)(28,162)7,374Operating income(3,329)(5,946)2,617Interest expense(6,903)(8,288)1,385Equity in income (losses) of unconsolidated ventures(581)400(981)Income tax (expense) benefit995(700)1,695Change in unrealized gains (losses)(2,505)(885)(1,620)Realized gains (losses)6(1)7Gains on sales of real estate———Net income (loss)(12,317)(15,420)3,103Net (income) attributable to Series A preferred shareholders(1,155)(1,155)—Net (income) attributable to Series B preferred shareholders(220)— (220)Net loss attributable to noncontrolling interests— 6,538 (6,538)Net loss attributable to redeemable noncontrolling interests in the OP5 — 5 Net income (loss) attributable to common shareholders$(13,687)$(10,037)$(3,650)

The net loss for the three months ended September 30, 2025 decreased by $3.1 million as compared to the three months ended September 30, 2024. The decrease between periods primarily relates to a decrease in expenses.

Revenues

Rental income. Rental income was $1.6 million for the three months ended September 30, 2025, compared to $4.4 million for the three months ended September 30, 2024, which was a decrease of approximately $2.8 million. Rental income decreased between the periods due to an increase in the allowance for bad debt related to certain tenants.

Rooms. Rooms revenue was $4.8 million for the three months ended September 30, 2025, compared to $7.3 million for the three months ended September 30, 2024, which was a decrease of approximately $2.5 million. Rooms revenue decreased between the periods due to the disposition of Hospitality properties in 2025.

Food and beverage. F&B revenue was $0.6 million for the three months ended September 30, 2025, compared to $0.5 million for the three months ended September 30, 2024, which was an increase of approximately $0.1 million. The increase between