Company: NXDT
Filing Date: 2025-01-21
Form Type: 424B3
Source: 0001437749-25-001494
Chunk: 1816

Company: NEXPOINT DIVERSIFIED REAL ESTATE TRUST
Filing Date: 2025-01-21
Form: 424B3
Chunk 1816
---
 |     |      |    326 |   |     |          |     (2 | ) |     |          |   -0.6 | %      |
| Property general and administrative expenses |     |                                  |  2,875 |     |      |  1,745 |   |     |          |  1,130 |   |     |          |   64.8 | %  (1) |
| Non-Same Store operating expenses            |     |                                  | 14,312 |     |      |  8,599 |   |     |          |  5,713 |   |     |          |   66.4 | %  (1) |
| Total operating expenses                     |     |                                  | 14,601 |     |      |  8,853 |   |     |          |  5,747 |   |     |          |   64.9 | %  (1) |
| NOI                                          |     |                                  |        |     |      |        |   |     |          |        |   |     |          |        |        |
| Same Store                                   |     |                                  |    419 |     |      |    468 |   |     |          |    (49 | ) |     |          |  -10.7 | %      |
| Non-Same Store                               |     |                                  |  2,426 |     |      |    847 | 0 |     |          |  1,580 |   |     |          |  186.4 | %  (1) |
| Total NOI                                    |     | $                                |  2,845 |     | $    |  1,315 |   |     | $        |  1,531 |   |     |          |  116.3 | %  (1) |

(1) Denotes that the significant percentage change in the current period comparison is primarily attributed to the consolidation of NHT.

See reconciliation of net income (loss) to NOI above under “NOI and Same Store NOI for the Three and Six Months Ended June 30, 2024 and 2023.”

<div align='center'>60

I-1426</div>

Consolidated Same Store Results of Operations for the Six Months Ended June 30, 2024 and 2023

As of June 30, 2024, our Same