Company: NREF
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001786248-25-000010
Chunk: 22

Company: NexPoint Real Estate Finance, Inc.
Filing Date: 2025-05-12
Form: 10-Q
Item: Item 8
Chunk 22
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 underlying the Company’s loans held-for-investment as a percentage of the loans’ face amounts.GeographyMarch 31, 2025December 31, 2024Massachusetts24.24 %22.68 %Texas16.58 %16.39 %Georgia10.97 %8.68 %Maryland8.53 %8.61 %California7.05 %8.55 %Virginia5.21 %5.15 %Florida4.47 %5.15 %Other (21 and 21 states each at <4%)22.95 %24.79 %100.00 %100.00 %*Included in "Other."

16

Collateral Property TypeMarch 31, 2025December 31, 2024Life Science35.07 %34.57 %Multifamily34.26 %34.98 %Single Family Rental26.58 %26.57 %Self-Storage2.95 %2.73 %Marina1.14 %1.15 %100.00 %100.00 %

4. CMBS Trusts

As of March 31, 2025, the Company consolidated all of the CMBS Entities that it determined are VIEs and for which the Company is the primary beneficiary. The Company elected the fair-value measurement alternative in accordance with ASU 2014-13 for each of the trusts and carries the fair values of the trust’s assets and liabilities at fair value in its Consolidated Balance Sheets, recognizes changes in the trust’s net assets, including changes in fair-value adjustments and net interest earned, in its Consolidated Statements of Operations and records cash interest received from the trusts and cash interest paid to bondholders of the CMBS not beneficially owned by the Company as investing and financing cash flows, respectively.The following table presents the Company’s recognized Trust’s Assets and Liabilities (in thousands): Trust's AssetsMarch 31, 2025December 31, 2024Mortgage loans held in variable interest entities, at fair value$4,235,748 $4,343,359 Accrued interest receivable3,533 3,877   Trust's LiabilitiesBonds payable held in variable interest entities, at fair value(3,928,411)(4,029,214)Accrued interest payable(2,916)(3,212