Company: NXDT
Filing Date: 2025-01-21
Form Type: 424B3
Source: 0001437749-25-001494
Chunk: 413

Company: NEXPOINT DIVERSIFIED REAL ESTATE TRUST
Filing Date: 2025-01-21
Form: 424B3
Chunk 413
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2022

There are two properties, White Rock Center and 5916 W Loop 289, in our same store pool for the year ended December 31, 2023, and the six months ended December 31, 2022 (our "Same Store" properties). Our Same Store properties exclude Cityplace Tower as of December 31, 2023 and December 31, 2022, because it was not yet stabilized, meaning construction or renovation was not completed. Non-Same Store properties include properties not yet stabilized.

The following table reflects the revenues, property operating expenses and NOI for the year ended December 31, 2023 and six months ended December 31, 2022 for our Same Store and Non-Same Store properties (dollars in thousands):

<div align='center'>63

I-68</div>

|                                              |     | 2023 | For the Year Ended December 31 |     | 2022 | For the Six Months Ended December 31 |
|:---------------------------------------------|:----|:-----|-------------------------------:|:----|:-----|-------------------------------------:|
| Revenues                                     |     |      |                                |     |      |                                      |
| Same Store                                   |     |      |                                |     |      |                                      |
| Rental income                                |     | $    |                          1,471 |     | $    |                                  811 |
| Same Store revenues                          |     |      |                          1,471 |     |      |                                  811 |
| Non-Same Store                               |     |      |                                |     |      |                                      |
| Rental income                                |     |      |                         18,839 |     |      |                                9,258 |
| Other income                                 |     |      |                            308 |     |      |                                    — |
| Non-Same Store revenues                      |     |      |                         19,147 |     |      |                                9,258 |
| Total revenues                               |     |      |                         20,618 |     |      |                               10,070 |
| Operating expenses                           |     |      |                                |     |      |                                      |
| Same Store                                   |     |      |                                |     |      |                                      |
| Property operating expenses                  |     |      |                            127 |     |      |                                   57 |
| Real estate taxes and insurance              |     |      |                            264 |     |      |                                  155 |
| Property management