Company: NXDT
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001356115-25-000003
Chunk: 772

Company: NEXPOINT DIVERSIFIED REAL ESTATE TRUST
Filing Date: 2025-03-31
Form: 10-K
Item: Item 8
Chunk 772
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in thousands). These amounts do not reflect future rental revenues from renewal or replacement of existing leases. Reimbursements of operating expenses and variable rent increases are excluded from the table below.Year:Operating Leases2025$8,408 20267,74620277,02120284,84420294,138Thereafter13,343Total$45,500 The following table lists the tenants where the rental revenue from the tenants represented 10% or more of total rental income in the Company’s Consolidated Statements of Operations and Comprehensive Income (Loss) (in thousands) for the year ended December 31, 2024:For the Year Ended December 31, 2024TenantRental IncomeNeiman Marcus Group, LLC$2,180 The following table lists the tenants where the rental revenue from the tenants represented 10% or more of total rental income in the Company’s Consolidated Statements of Operations and Comprehensive Income (in thousands) for the year ended December 31, 2023:For the Year Ended December 31, 2023TenantRental IncomeHudson Advisors LLC$2,610 Ground LeaseA subsidiary of NHT OP has a ground lease situated in Durham County, North Carolina, with a subsidiary of OSL, an entity that may be deemed an affiliate of the Adviser through common beneficial ownership. The lease has a remaining term of 4 years and a discount rate of 4.6% and contains five one-year extension options. As of December 31, 2024, the carrying amount of the right-of-use asset is $0.7 million, and the lease liability is $0.7 million.The future minimum lease payments under the operating lease as of December 31, 2024 are as follows:Years Ending December 31,Minimum Lease Payment2025$204 202620820272122028217Total undiscounted lease payments841Less: Present Value discount(120)Total lease liability$721 

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For the year ended December 31, 2024, the Company recognized lease expense of $0.3 million recorded on a straight-line basis over the lease term.

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17. Segment Reporting

The Company has two reportable segments: NXDT and NHT. For a description of the types of products and services from which these reportable segments derive their revenues, see Notes 1, 2 and 3. The accounting policies of both segments are the same as those described in the Summary of Significant Accounting Policies. The