Company: NREF
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001628280-25-052000
Chunk: 2

Company: NexPoint Real Estate Finance, Inc.
Filing Date: 2025-11-13
Form: 10-Q
Item: Item 1
Chunk 2
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Item 1. Financial Statements

1

Table of Contents

NEXPOINT REAL ESTATE FINANCE, INC. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

(in thousands, except share and per share amounts)

2

Table of Contents

September 30, 2025December 31, 2024(Unaudited)ASSETSCash and cash equivalents$17,921 $3,877 Restricted cash3,640 3,176 Net Operating Real Estate Investments64,310 121,836 Loans, held-for-investment, net ($23,801 and $28,036 with related parties, respectively) (1)583,646 497,544 Common stock investments, at fair value ($26,010 and $30,467 with related parties, respectively)51,566 57,389 Equity method investments ($1,660 and $1,504 with related parties, respectively)1,660 1,504 Mortgage loans, held-for-investment, net (2)122,176 263,395 Preferred stock investments, at fair value155,715 18,949 Accrued interest and dividends60,703 41,208 Mortgage loans held in variable interest entities, at fair value4,054,259 4,343,359 CMBS structured pass-through certificates, at fair value42,334 34,979 Stock warrant investments, at fair value116,228 27,400 Accounts receivable and other assets3,916 1,457 TOTAL ASSETS$5,278,074 $5,416,073 LIABILITIES AND STOCKHOLDERS' EQUITYLiabilities:Secured financing agreements, net ($9,958 and $9,869 with related parties, respectively)$176,752 $235,769 Master repurchase agreements257,605 243,454 Unsecured notes, net ($6,500 and $6,500 with related parties, respectively)222,217 221,001 Mortgages payable, net63,500 95,464 Accounts payable and other accrued liabilities11,889 9,458 Accrued interest payable15,326 10,020 Bonds payable held in variable interest entities, at fair value3,755,809 4,029,214 Total Liabilities4,503,098 4,844,380 Rede