Company: NREF
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001786248-25-000016
Chunk: 41

Company: NexPoint Real Estate Finance, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Item 8
Chunk 41
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able judgment is necessary to interpret market data and develop estimated fair values. Accordingly, the estimates presented herein are not necessarily indicative of the amounts 

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the Company would realize on the disposition of the financial instruments. The use of different market assumptions or estimation methodologies may have a material effect on the estimated fair value amounts.In calculating the fair value of its long-term indebtedness, the Company used interest rate and spread assumptions that reflect current creditworthiness and market conditions available for the issuance of long-term debt with similar terms and remaining maturities. These financial instruments utilize Level 2 inputs.Amounts borrowed under master repurchase agreements are based on their contractual amounts that reasonably approximate their fair value given the short to moderate term and floating rate nature.The carrying values and fair values of the Company’s financial assets and liabilities recorded at fair value on a recurring basis, as well as other financial instruments not carried at fair value as of June 30, 2025 (in thousands): Fair ValueCarryingValueLevel 1Level 2Level 3TotalAssetsCash and cash equivalents$9,056 $9,056 $— $— $9,056 Restricted cash4,682 4,682 — — 4,682 Loans, held-for-investment, net474,203 — — 503,193 503,193 Preferred stock investments, at fair value113,423 — — 113,423 113,423 Common stock investments, at fair value50,816 — — 50,816 50,816 Equity method investments1,539 — — 1,539 1,539 Mortgage loans, held-for-investment, net279,587 — — 279,604 279,604 Accrued interest49,360 49,360 — — 49,360 Mortgage loans held in variable interest entities, at fair value4,186,717 — 4,175,175 11,542 4,186,717 CMBS structured pass-through certificates, at fair value44,122 — 44,122 — 44,122 Stock warrant investments65,634 — — 65,634 65,634 Accounts receivable and other assets2,480 2,480 — — 2,480 Total Assets$5,281,619 $65,578 $4,219