Company: NXDT
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001356115-25-000003
Chunk: 46

Company: NEXPOINT DIVERSIFIED REAL ESTATE TRUST
Filing Date: 2025-03-31
Form: 10-K
Item: Item 5
Chunk 46
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)%Market Rent (per sqft)$11.50—$41.00$(26.25)RevPAR$75.00—$145.00$(102.00)Capitalization Rates5.25%—9.5%(7.58)%NAV ApproachDiscount Rate10.00%Multiples AnalysisMultiple of EBITDA3.00x—4.00x(3.50)xMultiple of NAV1.00x—1.25x(1.13)xRecent TransactionImplied Enterprise Value from Transaction Price ($mm)$841.00N/A$25.31—$28.00$(26.66)Discount to NAV(25.00)%—(10.00)%(17.50)%Offer Price per Share$1.10Convertible NotesDiscounted Cash FlowDiscount Rate6.08%—10.25%(8.17)%42,251 Option Pricing ModelVolatility55.00%—65.00%(60.00)%LLC InterestDiscounted Cash FlowDiscount Rate7.50%—30.50%14%39,399 Market Rent (per sqft)$11.5—$41$(26.25)Capitalization Rate5.25%LP InterestDirect Capitalization ApproachCapitalization Rate4.00%—6.80%5.51%195,898 Discount to NAV(12.5)%—(2.5)%(-7.5%)Market ApproachCapitalization Rate5.00%—5.50%(5.22)%Recent TransactionPrice per Share$21.59Preferred SharesRecent TransactionPrice per Share$1,00066,268 Senior LoanDiscounted Cash FlowDiscount Rate12.30%—20.00%(16.15)%46,353 Total$567,640 

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Financial Instruments Not Carried at Fair ValueAt December 31, 2024 and December 31, 2023, the fair values of cash and cash equivalents, restricted cash, accounts receivable, prepaid and other assets, accrued interest and dividends, accounts payable and other accrued liabilities, accrued real estate taxes payable, accrued interest payable, income tax payable, security deposits and prepaid rent 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. Considerable judgment is necessary to interpret market data and develop estimated fair values. Accordingly, the estimates presented herein are not necessarily indicative of the