Company: NXDT
Filing Date: 2025-01-21
Form Type: 424B3
Source: 0001437749-25-001494
Chunk: 1688

Company: NEXPOINT DIVERSIFIED REAL ESTATE TRUST
Filing Date: 2025-01-21
Form: 424B3
Chunk 1688
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7% leased with a weighted average monthly effective rent per square foot of $1.21 as of September 30, 2023. For our Same Store properties, we recorded the following operating results for the nine months ended September 30, 2024 and 2023.

Revenues

Rental Income. Rental income was $1.1 million for the nine months ended September 30, 2024, compared to $1.1 million for the nine months ended September 30, 2023.

Expenses

Property operating expenses. Property operating expenses were $126.2 thousand for the nine months ended September 30, 2024, compared to $84.8 thousand for the nine months ended September 30, 2023, which was an increase of approximately $41.4 thousand or 48.8%. The majority of the increase between the nine months ended September 30, 2024 and the nine months ended September 30, 2023 is related to an increase in repair and maintenance fees.

Real estate taxes and insurance. Real estate taxes and insurance costs were $211.3 thousand for the nine months ended September 30, 2024, compared to $223.3 thousand for the nine months ended September 30, 2023, which was a decrease of approximately $12.0 thousand or 5.4%. The majority of the decrease between the nine months ended September 30, 2024 and the nine months ended September 30, 2023 is related to a decrease in the property tax budget.

Property management fees. Property management fees were $57.8 thousand for the nine months ended September 30, 2024, compared to $55.3 thousand for the nine months ended September 30, 2023, which was an increase of approximately $2.5 thousand, or 5.5%. The increase between the nine months ended September 30, 2024 and the nine months ended September 30, 2023 is related to an increase in rental revenue, which the management fee is calculated off of.

Property general and administrative expenses. Property general and administrative expenses were $55.0 thousand for the nine months ended September 30, 2024, compared to $52.8 thousand for the nine months ended September 30, 2023, which was an increase of approximately $2.2 thousand, or 3.8%. The majority of the increase between the nine months ended September 30, 2024