Company: NXDT
Filing Date: 2025-04-11
Form Type: S-4
Source: 0001437749-25-011826
Chunk: 124

Company: NEXPOINT DIVERSIFIED REAL ESTATE TRUST
Filing Date: 2025-04-11
Form: S-4
Chunk 124
---
 subject to an ongoing renovation which will convert a portion of the property into a hotel. Former office floors will be converted to a 221-key full-service hotel to attract both business and leisure travelers and approximately 500 units of a mix of affordable and luxury multifamily residences. Residents will have access to some of the best views in Dallas, sprawling floor plans and a full-service hotel. The hotel’s main lobby level will contain a 7-level atrium with a lobby lounge, reception area, bars, and a full-service upmarket restaurant. The southside of the main lobby level will contain a multi-function pool, pool deck and outdoor bar. Existing event space will be upgraded with new furniture, fixtures and equipment, including updating of food and beverage catering spaces. Old NXDT estimates an additional $190 million to $210 million of capital expenditures to complete the Cityplace renovation.

Other Properties

The Portfolio includes three additional operating properties in the NXDT segment, each located in Texas. Two of these operating properties are retail properties that were acquired in 2013. These properties include approximately 1.1 million rentable square feet. NXDT also owns a property consisting of 21.5 acres of undeveloped land in Plano, Texas.

In the opinion of Old NXDT’s management, each of its operating properties is adequately covered by insurance.

NHT Segment

Dallas Hilton Garden Inn

The Dallas Hilton Garden Inn is an upscale select-service hotel that was originally constructed in 1995, centrally located and proximate to many of the region’s major demand generators, including the Dallas Love Field and several medical facilities in the Dallas Medical District. The 240-room hotel is also within walking distance to the Dallas Market Center and one of the largest convention hotels in the southwest United States, the Hilton Anatole. The Dallas Hilton Garden Inn is wholly-owned by NHT. NHT currently has approximately $18 million of debt owing on the Dallas property, which matures on April 8, 2025, with a 3.45% interest rate and 30-year amortization. NHT is planning to start approximately $4.7 million of total renovations to the public spaces of the Dallas property in the second half of 2025.

St. Petersburg Marriott

The St. Petersburg Marriott is an upper upscale, full-service hotel that was originally constructed in 2001. The 209-room hotel is located less than a mile from Raymond James Ltd., one of the largest employers in the greater Tampa Bay MSA as well as a variety of corporate