Company: NXDT
Filing Date: 2025-08-22
Form Type: S-3
Source: 0001437749-25-027604
Chunk: 2

Company: NEXPOINT DIVERSIFIED REAL ESTATE TRUST
Filing Date: 2025-08-22
Form: S-3
Chunk 2
---
 NexPoint Diversified Real Estate Trust, a Delaware statutory trust (the “Company”), to be offered and sold from time to time by the selling shareholders identified in the Prior Registration Statement, and (ii) the registration of an aggregate of an additional 4,141,410 common shares of the Company, to be offered and sold from time to time by the selling shareholders identified herein.

Pursuant to Rule 429 under the Securities Act, this registration statement also constitutes a post-effective amendment to the Prior Registration Statement, and such post-effective amendment shall hereafter become effective concurrently with the effectiveness of this registration statement in accordance with Section 8(c) of the Securities Act.

The information in this prospectus is not complete and may be changed. The selling shareholders may not sell the securities until the registration statement filed with the Securities and Exchange Commission is effective. This prospectus is not an offer to sell these securities and it is not soliciting an offer to buy these securities in any state where the offer or sale is not permitted.

<div align='center'>SUBJECT TO COMPLETION DATED AUGUST 22, 2025</div>

PROSPECTUS

<div align='center'>NEXPOINT DIVERSIFIED REAL ESTATE TRUST

6,000,000 Common Shares</div>

This prospectus relates to the offer and sale, from time to time, of up to 6,000,000 common shares of NexPoint Diversified Real Estate Trust, a Delaware statutory trust (the “Company,” “we,” “our” or “us”) by the selling shareholders identified in this prospectus.

The selling shareholders identified in this prospectus, may offer and sell the common shares covered by this prospectus from time to time in amounts, at prices and on terms that will be determined at the time of the offering. This prospectus provides you with a general description of the common shares and the general manner in which the selling shareholders may offer the common shares. You should read this prospectus and any applicable prospectus supplement carefully before you invest.

Our registration of the common shares covered by this prospectus does not mean that the selling shareholders will offer or sell any of our common shares, and we will not receive any of the proceeds from the sale of the common shares by the selling shareholders under this prospectus.

Our common shares are listed on the New York Stock Exchange (the “NYSE”) and the NYSE Texas (“NYSE Texas”) under the symbol “NXDT.” On August 21, 2025, the