Company: NREF
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001628280-25-052000
Chunk: 93

Company: NexPoint Real Estate Finance, Inc.
Filing Date: 2025-11-13
Form: 10-Q
Item: Item 8
Chunk 93
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, 2025. The Company intends to extend the maturity to facilitate the sale of the property.

(8)Effective April 1, 2024, the Company reclassified this investment from a mezzanine loan to senior loan because there was no senior mortgage on the property collateralized by the loan. Effective September 30, 2025, the Company reclassified this investment back to a mezzanine loan because as of September 30, 2025 there is a senior mortgage on the property collateralized by the loan.

(9)The Company, through the Subsidiary OPs, invested $1.1 million in the year ended December 31, 2024 in this preferred equity investment.

(10)Real Estate is a 204-unit multifamily property the Company sold on July 22, 2025. The Company must include the net assets still owed in its financial statements pursuant to applicable accounting standards.

(11)Real Estate is a 280-unit multifamily property. As of September 30, 2025, the property was 94.6% occupied with effective rent per occupied unit of $1,617 per month.

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The following table details overall statistics for our portfolio as of September 30, 2025 (dollars in thousands):

TotalPortfolioFloating RateInvestmentsFixed RateInvestmentsCommon EquityInvestmentsReal Estate InvestmentsStock WarrantsNumber of investments882058721Principal balance (1)$1,110,823$377,836$732,986N/AN/AN/ACarrying value$1,574,961$367,907$973,290$53,226 $64,310 $116,228 Weighted-average cash coupon5.32 %5.61 %5.17 %N/AN/AN/AWeighted-average all-in yield7.62 %10.77 %6.43 %N/AN/AN/A

(1) Cost is used in lieu of notional value for CMBS I/O Strips.

                                                                                                                                                                                                                                                           Liquidity and Capital Resources

Our short-term liquidity requirements consist primarily of funds necessary to pay for our ongoing commitments to repay borrowings, maintain our investments, make distributions to our stockholders and other general business needs. Our investments generate liquidity on an ongoing basis through principal and interest payments, prepayments and dividends. We believe that our available cash, expected operating cash flows, and potential debt or equity financings will provide sufficient funds for our operations,