Company: NXDT
Filing Date: 2025-01-21
Form Type: 424B3
Source: 0001437749-25-001494
Chunk: 406

Company: NEXPOINT DIVERSIFIED REAL ESTATE TRUST
Filing Date: 2025-01-21
Form: 424B3
Chunk 406
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 divided by the occupied square footage of commenced leases as of December 31, 2023. |

| (2) | Percent occupied is calculated as the rentable square footage occupied as of December 31, 2023, divided by the total rentable square footage, expressed as a percentage. |

| (3) | Cityplace is currently under development and the Company is converting part of the property into a hotel, which was still under construction as of December 31, 2023. |

| (4) | The property's tenant vacated in the fourth quarter of 2023. The Company is currently looking into leasing out the property. |

Results of Operations for the Year Ended December 31, 2023 and Six Months Ended December 31, 2022

As a result of the Business Change, we have not provided a comparison of our financial statements to prior periods in which we were operating as a registered investment company because it would not be useful to our shareholders. The discussion herein is principally limited to our financial condition and results of operations during the period from the Deregistration Date to December 31, 2022 and from January 1, 2023 to December 31, 2023.

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The following table sets forth a summary of our operating results for the year ended December 31, 2023 and the six months ended December 31, 2022 (in thousands):

|                                                          |     | 2023 | For the Year Ended December 31 |   |     | 2022 | For the Six Months Ended December 31, |   |
|:---------------------------------------------------------|:----|:-----|-------------------------------:|:--|:----|:-----|--------------------------------------:|:--|
| Total revenues                                           |     | $    |                         63,284 |   |     | $    |                                55,130 |   |
| Total expenses                                           |     |      |                        (51,703 | ) |     |      |                               (24,358 | ) |
| Operating income                                         |     |      |                         11,581 |   |     |      |                                30,772 |   |
| Interest expense                                         |     |      |                        (15,902 | ) |     |      |                                (5,759 | ) |
| Equity in income (losses) of unconsolidated ventures     |     |      |                           (306 | ) |