Company: NXDT
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001356115-25-000021
Chunk: 83

Company: NEXPOINT DIVERSIFIED REAL ESTATE TRUST
Filing Date: 2025-08-14
Form: 10-Q
Item: Item 1A
Chunk 83
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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 “Consolidated NOI and Same Store NOI for the Six Months Ended June 30, 2025 and 2024.”

Consolidated Same Store Results of Operations for the Six Months Ended June 30, 2025 and 2024

As of June 30, 2025, our Same Store properties were approximately 59.7% leased with a weighted average monthly effective occupied rent per square foot of $1.18, compared to 51.5% leased with a weighted average monthly effective occupied rent per square foot of $1.14 as of June 30, 2024. For our Same Store properties, we recorded the following operating results for the six months ended June 30, 2025 and 2024.

Revenues

Rental Income. Rental income was $808.0 thousand for the six months ended June 30, 2025, compared to $707.4 thousand for the six months ended June 30, 2024, which is an increase of approximately $100.6 thousand or 14.3%. The majority of the increase between the six months ended June 30, 2025 and the six months ended June 30, 2024 is due to an increase in occupancy at White Rock Center.

Expenses

Property operating expenses. Property operating expenses were $122.0 thousand for the six months ended June 30, 2025, compared to $88.0 thousand for the six months ended June 30, 2024, which was an increase of approximately $34.0 thousand or 38.6%. The majority of the increase between the six months ended June 30, 2025 and the six months ended June 30, 2024 is related to an increase in repair and maintenance fees.

Real estate taxes and insurance. Real estate taxes and insurance costs were $140.0 thousand for the six months ended June 30, 2025, compared to $145.9 thousand for the six months ended June 30, 2024, which was a decrease of approximately $5.9 thousand or 4.1%. The majority of the decrease between the six months ended June 30, 2025 and the six months ended June 30, 2024 is related to a decrease in the property tax budget.

Property management fees. Property