Company: NXDT
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001356115-25-000003
Chunk: 107

Company: NEXPOINT DIVERSIFIED REAL ESTATE TRUST
Filing Date: 2025-03-31
Form: 10-K
Item: Item 3
Chunk 107
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,803 7,981 Conversion expenses— 1,203 Income tax expense1,372 2,731 Depreciation and amortization15,600 13,937 Interest expense28,352 15,902 Non-operating property investment revenue¹(39,281)(42,667)Realized (gains) losses from non-real estate investments21,479 1,634 Change in unrealized (gains) losses from non-real estate investments1,348 108,249 Equity in (income) losses of unconsolidated equity method ventures(129)306 Impairment loss7,110 — NOI$6,246 $3,775 Less Non-Same StoreRevenues$(42,795)$(19,147)Operating expenses37,057 16,310 Same Store NOI$508 $938 

(1)Non-operating property investment revenue is defined as revenue included in the consolidated financial statements that are from non-operating properties such as dividend income and interest income.

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 The following table, which has not been adjusted for the effects of NCI, reconciles our NOI for each of our segments for the year ended December 31, 2024 to net income (loss), the most directly comparable GAAP financial measure by reportable segment (in thousands):

For the Year Ended December 31,20242023NexPoint Diversified Real Estate TrustNexPoint Hospitality TrustTotalNexPoint Diversified Real Estate Trust¹Net income (loss)$(35,337)$(21,236)$(56,573)$(117,241)Adjustments to reconcile net income (loss) to NOI:Advisory and administrative fees13,28687914,16511,740Corporate general and administrative expenses9,9472,85612,8037,981Conversion expenses———1,203Income tax expense1,441(69)1,3722,731Depreciation and amortization11,6983,90215,60013,937Interest expense17,44310,90928,35215,902Non-operating property investment revenue²(34,300)(4,981)(39,281)(42,667)Realized (gains) losses from non-real estate investments21,479—21,4791,634Change in unrealized (gains) losses from non-real estate investments1,348—1,348108,249Equ