Company: NREF
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001786248-25-000004
Chunk: 333

Company: NexPoint Real Estate Finance, Inc.
Filing Date: 2025-03-27
Form: 10-K
Item: Item 1C
Chunk 333
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6)%Preferred equity, held-for-investment26,062 218,874 11.91 %19,641 165,674 11.86 %6,421 32.7 %CMBS structured pass-through certificates, at fair value841 37,389 2.25 %2,218 43,824 5.06 %(1,377)(62.1)%MSCR Notes528 3,455 15.28 %1,341 10,267 13.06 %(813)(60.6)%Mortgage backed securities1,530 27,549 5.55 %3,708 32,450 11.43 %(2,178)(58.7)%Promissory notes and Revolving Credit Facilities26,156 66,401 39.39 %— —  N/A 26,156 N/ATotal interest income$72,507 $713,849 10.16 %$68,358 $1,109,343 6.16 %$4,149 6.1 %Interest expenseMaster repurchase agreements, net$(20,341)$(283,998)7.16 %$(22,576)$(323,443)6.98 %$2,235 (9.9)%Long-term seller financing, net(4,140)(207,888)1.99 %(15,032)(678,245)2.22 %10,892 (72.5)%Unsecured notes, net(17,674)(223,401)7.91 %(13,952)(207,697)6.72 %(3,722)26.7 %Asset specific financing(2,216)(57,661)3.84 %— —  N/A (2,216)N/ATotal interest expense$(44,371)$(772,948)5.74 %$(51,560)$(1,209,385)4.26 %$7,189 (13.9)%Net interest income (4)$28,136 $16,798 $11,338 67.5 %

(1)Average balances for the senior loans, the mezzanine loans and preferred equity are calculated based upon carrying values.

(2)Yield calculated on an annualized basis.

(3