Company: NREF
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001786248-25-000016
Chunk: 269

Company: NexPoint Real Estate Finance, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Item 2
Chunk 269
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 2025.

Revenues

Net interest income (loss). Net interest income was $23.6 million for the six months ended June 30, 2025 compared to net interest loss of $6.1 million for the six months ended June 30, 2024, which was an increase of approximately $29.7 million. The increase between the periods is primarily due to increased income from investments in preferred equity loans and on the revolving credit facility. 

Other income. Other income was $42.2 million for the six months ended June 30, 2025 compared to $23.4 million for the six months ended June 30, 2024, which was an increase of approximately $18.8 million. This was primarily due to an increase in unrealized gain related to consolidated preferred stock and warrants, and an increase in income of equity method investments between the periods.

Expenses

G&A expenses. G&A expenses were $6.3 million for the six months ended June 30, 2025 compared to $7.4 million for the six months ended June 30, 2024, which was a decrease of approximately $1.1 million. The decrease between the periods was primarily due to a $0.9 million decrease in legal expense and a $0.1 million decrease in audit expense as compared to the prior period.

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Loan servicing fees. Loan servicing fees were $0.7 million for the six months ended June 30, 2025 compared to $0.9 million for the six months ended June 30, 2024, which was a decrease of approximately $0.2 million. The decrease between the periods was primarily due to a decrease in SFR Loans in the portfolio compared to the prior period.

Management fees. Management fees were $3.0 million for the six months ended June 30, 2025 compared to $1.7 million for the six months ended June 30, 2024. The increase between the periods was primarily due to an increase in Equity as defined by the Management Agreement.

Expenses from consolidated real estate owned.  Expenses from consolidated real estate owned were $7.6 million for the six months ended June 30, 2025, compared to $9.8 million for the six months ended June 30, 2024, which was a decrease of approximately $2.2 million. The decrease between the periods is due to a decrease in depreciation and amortization of Montford as it was