Company: NREF
Filing Date: 2025-11-04
Form Type: 424B5
Source: 0001437749-25-033056
Chunk: 67

Company: NexPoint Real Estate Finance, Inc.
Filing Date: 2025-11-04
Form: 424B5
Chunk 67
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 a publicly registered diversified REIT that offers its 9.00% Series B Cumulative Redeemable Preferred Shares, par value $0.001 per share, in a registered continuous offering which are not listed on a national securities exchange. NexPoint Diversified Real Estate Trust does not disclose a date or time period at which might be liquidated.

NexPoint Capital, Inc. is a business development company that stated in its prospectus that “[w]e intend to seek to complete a liquidity event within five years following the completion of our offering stage; however, the offering period may extend for an indefinite period. Accordingly, you should consider that you may not have access to the money you invest for an indefinite period of time until we complete a liquidity event.” However, the prospectus also stated that it was not required to complete a liquidity event within five years and could extend the timing of such liquidity event indefinitely. The offering stage was completed in February 2018 and, as of the date of this prospectus supplement, NexPoint Capital, Inc. has not completed a liquidity event. However, the fund has maintained a quarterly tender program since inception and to date, all investors that have requested a tender have received their requested liquidity, subject to the quarterly tender cap requiring pro rata tenders in accordance with the prospectus.

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NexPoint Multifamily Capital Trust, Inc. was a publicly registered unlisted REIT that stated in its prospectus that “[w]e intend to begin the process of achieving a liquidity event within two to five years after the completion of this offering. A liquidity event may include a sale of assets to another REIT, a merger into an existing publicly traded REIT or other publicly traded vehicle, or a listing of our shares on a national securities exchange.” NexPoint Multifamily Capital Trust, Inc. did achieve a liquidity event within the disclosed time period in connection with a contribution of assets to another REIT.

VineBrook Homes Trust, Inc. is a publicly registered unlisted REIT that stated in its offering documents that “…we anticipate holding the Portfolio between three and five years after the Initial Closing before embarking on an exit strategy for the Company,” with the Initial Closing defined as November 1, 2018. The offering documents further stated that “[a]lthough we believe three to five years is a prudent duration to hold the Portfolio, the actual duration of each asset in the Portfolio could be shorter or longer depending on market conditions