Company: NXDT
Filing Date: 2025-01-21
Form Type: 424B3
Source: 0001437749-25-001494
Chunk: 2263

Company: NEXPOINT DIVERSIFIED REAL ESTATE TRUST
Filing Date: 2025-01-21
Form: 424B3
Chunk 2263
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 |                         39 |   |     |   |                38 |   |
| Additional paid-in capital                                                                                                          |     |   |                  1,018,136 |   |     |   |         1,011,613 |   |
| Accumulated earnings (loss)                                                                                                         |     |   |                   (155,155 | ) |     |   |          (126,580 | ) |
| Total Shareholders' Equity                                                                                                          |     |   |                    863,023 |   |     |   |           885,074 |   |
| TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY                                                                                          |     | $ |                  1,074,550 |   |     | $ |         1,098,336 |   |

<div align='center'>See Notes to Consolidated Financial Statements

2

I-1812

NEXPOINT DIVERSIFIED REAL ESTATE TRUST AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF OPERATIONS

AND COMPREHENSIVE INCOME (LOSS)

(in thousands, except per share amounts)

(Unaudited)</div>

| Revenues                                                                                                              |     | For the Three Months Ended March 31, 
 2024                                 |         |   |     | For the Three Months Ended March 31, 
 2023                                 |         |   |
|:----------------------------------------------------------------------------------------------------------------------|:----|:-------------------------------------|--------:|:--|:----|:-------------------------------------|--------:|:--|
| Rental income                                                                                                         |     | $                                    |   4,047 |   |     | $                                    |   4,720 |   |
| Interest income ($482 and $625 with related parties, respectively)                                                    |     |                                      |   1,682 |   |     |                                      |   2,018 |   |
| Dividend income ($6,905 and $6,426 with related parties, respectively)                                                |     |                                      |   7,049 |   |     |                                      |   8,119 |   |
| Other income                                                                                                          |     |                                      |      27 |   |     |                                      |       9 |   |
| Total revenues                                                                                                        |     |                                      |  12,805 |   |     |                                      |  14,866 |   |
| Expenses                                                                                                              |     |                                      |         |   |     |                                      |         |   |
|