Company: NREF
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001628280-25-052000
Chunk: 52

Company: NexPoint Real Estate Finance, Inc.
Filing Date: 2025-11-13
Form: 10-Q
Item: Item 8
Chunk 52
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$2.43 $0.54 

13. Noncontrolling Interests

Redeemable Noncontrolling Interests in the OPThe following table sets forth the redeemable noncontrolling interests in the OP (reflecting the OP’s consolidation of the Subsidiary OPs) for the nine months ended September 30, 2025 and 2024 (in thousands):For the Nine Months Ended September 30,20252024Redeemable noncontrolling interests in the OP, January 1,$86,164 $89,471 Net income attributable to redeemable noncontrolling interests in the OP15,383 4,322 Distributions to redeemable noncontrolling interests in the OP(7,558)(7,558)Redeemable noncontrolling interests in the OP, September 30,$93,989 $86,235 

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The table below presents the common shares and OP Units outstanding held by the noncontrolling interests (“NCI”), as the OP Units held by the Company are eliminated in consolidation:Period EndCommon SharesOutstandingOP Units Held byNCICombinedOutstandingSeptember 30, 202517,721,8285,038,38222,760,210

14. Related Party Transactions

Management FeeIn accordance with the Management Agreement, the Company pays the Manager an annual management fee equal to 1.5% of Equity (as defined below), paid monthly, in cash or shares of Company common stock at the election of our Manager (the “Annual Fee”). The duties performed by the Company’s Manager under the terms of the Management Agreement include, but are not limited to: providing daily management for the Company, selecting and working with third-party service providers, formulating an investment strategy for the Company and selecting suitable investments, managing the Company’s outstanding debt and its interest rate exposure and determining when to sell assets.“Equity” means (a) the sum of (1) total stockholders’ equity immediately prior to the closing of the IPO, plus (2) the net proceeds received by the Company from all issuances of the Company’s equity securities in and after the IPO, plus (3) the Company’s cumulative Earnings Available for Distribution (“EAD”) (as defined below) from and after the IPO to the end of the most recently completed calendar quarter, (b) less (1) any distributions to the holders of the Company’s common stock from and after the IPO to the end of the