Company: NREF
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001628280-25-052000
Chunk: 139

Company: NexPoint Real Estate Finance, Inc.
Filing Date: 2025-11-13
Form: 10-Q
Item: Item 1A
Chunk 139
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 longer the primary beneficiary. The Company deconsolidated the Montford subsidiary (including the property) as of July 22, 2025. 

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Simultaneously with the sale, the Seller, NexBank Capital and the Montford subsidiary entered into an Agreement Regarding Ownership of Bank Accounts, which retained the bank account and its balance, along with all its respective rights, titles and interest in, to, and under, at the Seller. During the nine months ended September 30, 2025, the Company recognized a gain on deconsolidation of $3.7 million which was recognized in gain on sales of real estate in the consolidated statement of operations. A director and officer of the Company also (i) is the beneficiary of a trust that indirectly owns 100% of the limited partnership interests in the parent of the Manager and directly owns 100% of the general partnership interests in the parent of the Manager and (ii) is a director of NexBank Capital, the holding company of NexBank, directly owns a minority of the common stock of NexBank, and is the beneficiary of a trust that directly owns a substantial portion of the common stock of NexBank. For more information on the sale, see Note 17.On October 10, 2023, the Company exercised its right to terminate and replace the existing manager of SPG Alexander JV LLC, which owns a 280-unit multifamily property in Atlanta, Georgia (Alexander at the District). As of September 30, 2025, the components of the Company's investment in a multifamily property were as follows (in thousands):Real Estate Investments, NetLandBuildings andImprovementsConstruction in ProgressFurniture,Fixtures andEquipmentTotalsAlexander at the District$7,806 $59,785 $— $1,438 $69,029 Accumulated depreciation and amortization— (4,014)— (705)(4,719)Net Operating Real Estate Investments$7,806 $55,771 $— $733 $64,310 As of December 31, 2024, the components of the Company's investments in multifamily properties were as follows (in thousands):Real Estate Investments, NetLandBuildings andImprovementsConstruction in ProgressFurniture,Fixtures andEquipmentTotalsHudson Montford$10,996 $50,204 $— $1,018 $62,218 Alexander at the District7,