Company: NREF
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001786248-25-000016
Chunk: 40

Company: NexPoint Real Estate Finance, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Item 8
Chunk 40
---
 months ended June 30, 2025 and 2024, the activity related to the carrying value of the master repurchase agreements, secured financing agreements and unsecured financing were as follows (in thousands):For the Six Months Ended June 30,20252024Balances as of January 1,$795,688 $1,268,212 Principal borrowings73,358 194,104 Principal repayments(57,923)(605,941)Principal repayments on mortgages payable(164)(116)Loss on extinguishment of debt172 184 Accretion of discounts826 739 Amortization of deferred financing costs24 24 Balances as of June 30,$811,981 $857,206 Schedule of Debt MaturitiesThe aggregate scheduled maturities, including amortizing principal payments, of total debt for the next five calendar years subsequent to June 30, 2025 are as follows (in thousands):YearRecourseNon-recourseTotal2025(1)$158,351 $289,512 $447,863 2026190,000 9,284 199,284 20276,500 — 6,500 202832,480 64,603 97,083 2029— 35,762 35,762 Thereafter— 29,070 29,070 $387,331 $428,231 $815,562 (1)The transactions in place in the master repurchase agreement with Mizuho have a one-month to two-month tenor and are expected to roll accordingly.

10. Fair Value of Financial Instruments

Derivative Financial Instruments and Hedging ActivitiesIn the normal course of business, our operations are exposed to market risks, including the effect of changes in interest rates. We may enter into derivative financial instruments to offset this underlying market risk. There have been no significant changes in our policy and strategy from what was disclosed in the financial statements included in our Annual Report.Financial Instruments Carried at Fair ValueSee Notes 2, 4, 5, 6 and 7 for additional information.Financial Instruments Not Carried at Fair ValueThe fair values of cash and cash equivalents, accrued interest and dividends, accounts payable and other accrued liabilities and accrued interest payable approximated their carrying values because of the short-term nature of these instruments. The estimated fair values of other financial instruments were determined by the Company using available market information and appropriate valuation methodologies. Consider