Company: NXDT
Filing Date: 2025-01-21
Form Type: 424B3
Source: 0001437749-25-001494
Chunk: 140

Company: NEXPOINT DIVERSIFIED REAL ESTATE TRUST
Filing Date: 2025-01-21
Form: 424B3
Chunk 140
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 Holders and other affiliates of the REIT or NXDT; |

| ● | persons subject to mark-to-market tax accounting rules; |

| ● | tax-exempt entities (including private foundations) (except to the limited extent discussed in “—NXDT Common Share Ownership–Taxation of Tax-Exempt U.S. Holders of Our Shares” below); |

| ● | insurance companies; |

| ● | regulated investment companies; |

| ● | real estate investment trusts; |

| ● | pension plans; |

| ● | cooperatives; |

| ● | government organizations; |

| ● | partnerships, subchapter S corporations or other entities or arrangements treated as partnerships or flow-through entities for U.S. federal income tax purposes (and investors therein); |

| ● | certain expatriates or former long-term residents of the United States; |

| ● | persons that acquired Units as compensation; |

| ● | persons that actually or constructively own five percent or more of the Units or, as a result of the Transaction, New NHT Shares or NXDT Common Shares, by vote or value; |

| ● | persons that hold Units, or will hold New NHT Shares or NXDT Common Shares, in connection with a trade or business, permanent establishment, or fixed place of business conducted outside the United States; |

| ● | persons that hold Units, or will hold New NHT Shares or NXDT Common Shares, as part of a straddle, constructive sale, hedging, conversion or other integrated or similar transaction; |

| ● | holders who receive NXDT’s securities through the exercise of employee share options or otherwise as compensation; |

| ● | persons required to accelerate the recognition of any item of gross income with respect to NXDT’s capital shares as a result of such income being recognized on an applicable financial statement; |

| ● | with respect to the discussion included under the heading “—NXDT Common Share Ownership”, non-U.S. individuals and foreign corporations (except to the limited extent discussed in “—Taxation of Non-U.S. Holders of Our Shares”); or |

| ● | U.S. Holders (as defined below) whose functional currency is not the U.S. dollar. |

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If a partnership (or any entity so characterized for U.S. federal income tax purposes or other flow-through entity) holds Units, New NHT Shares or NXDT Common Shares, the tax treatment of such partnership (or other flow-through entity)