Company: NXDT
Filing Date: 2025-01-21
Form Type: 424B3
Source: 0001437749-25-001494
Chunk: 47

Company: NEXPOINT DIVERSIFIED REAL ESTATE TRUST
Filing Date: 2025-01-21
Form: 424B3
Chunk 47
---
2) |
| NexPoint Real Estate Opportunities, LLC |                    15,747,388 | 53.65%                             |
| The Dugaboy Investment Trust            |                     5,394,662 | 18.38%                             |
| NHT Holdco, LLC                         |                     1,045,848 | 3.56%                              |
| Governance RE Ltd                       |                     1,068,519 | 3.63%                              |
| NexPoint Real Estate Advisors, L.P.     |                        90,378 | 0.31%                              |

Notes:

(1) The percentages shown are based on 29,352,055 Units outstanding as of the date hereof.

(2) Each of the Unitholders listed above is directly or indirectly controlled by, or acting jointly and in concert with, James Dondero.

The Board has unanimously approved the Amendments to the CDOR Loans (with Mr. Dondero declaring his interest in the CDOR Amendment and abstaining from voting) and recommends that the Unitholders voteFORthe Amended CDOR Loans Resolution. Unless otherwise instructed, the persons named in the enclosed Form of Proxy intend to vote such Form of ProxyFORthe Amended CDOR Loans Resolution.

For additional information required by MI 61-101 in respect of the Amended CDOR Loans Resolution, please see above under “Matters to be Considered at the Meeting–4. Approval of Amendments to COVID Loans–Additional Information Required by MI 61-101”.

<div align='center'>-31-</div>

| 6. | Approval of Transaction Resolution |

The Merger Agreement is the result of negotiations between representatives of the REIT and the Special Committee (as defined below) and their advisors, and representatives of NXDT and its advisors. The following is a summary of certain events, meetings, negotiations, discussions and actions leading up to the execution and public announcement of the Merger Agreement.

As part of the REIT’s ongoing focus on building long-term value, the Board regularly reviews and assesses the REIT’s long-term goals and strategic opportunities and alternatives, business prospects, industry trends, competitive environment, trading value relative to net asset value and short- and long-term performance, with the goal of maximizing Unitholder value. The Board also considers potential risks that the REIT faces in execution, including challenging global economic conditions, potentially unfavorable investment environments in the real estate market, general market conditions and trends, the highly competitive environment, and other