Company: NREF
Filing Date: 2025-10-10
Form Type: 8-K
Source: 0001437749-25-030861
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Company: NexPoint Real Estate Finance, Inc.
Filing Date: 2025-10-10
Form: 8-K
Item: Item 1.01
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Item 1.01. Entry into a Material Definitive Agreement.

On October 10, 2025, NexPoint Real Estate Finance Operating Partnership, L. P. (the “ OP”), the operating partnership of NexPoint Real Estate Finance, Inc. (the “ Company”), as issuer, entered into a note purchase agreement (the “ Note Purchase Agreement”) with Bluerock Total Income+ Real Estate Fund (“ Bluerock”) and The Ohio State Life Insurance Company (“ OSL,” and, together with Bluerock, the “ Purchasers”), as purchasers, the Company, as guarantor, and NexPoint Real Estate Advisors VII, L. P. (the “ Manager”), the external manager of the Company, whereby the OP issued and sold an aggregate principal amount of $45.0 million of 7.875% Senior Unsecured Notes due 2026 (the “ Notes”) to the Purchasers. The OP intends to use the net proceeds from the Notes to fully repay the approximately $36.5 million aggregate principal amount of the OP’s 7.50% Senior Unsecured Notes due 2025 (the “2020 OP Notes”) and for general corporate purposes.

The Notes are the senior unsecured obligations of the OP with interest payable on October 15 and April 15 of each year, beginning April 15, 2026. The Notes mature October 10, 2026 with two six-month extension options exercisable in the OP’s discretion, subject to an extension fee. If the second extension option is exercised, the interest rate on the Notes will increase by 3.0%. The OP may at its option redeem the Notes, in whole or in part, at any time at a redemption price equal to 100% of the principal amount of the Notes plus any accrued and unpaid interest to, but not including, the redemption date.

Subject to certain limitations, in the event of a change of control of the OP, the OP will be required to make an offer to repurchase the Notes at a purchase price equal to 100% of the principal amount thereof, plus accrued and unpaid interest to, but not including, the purchase date.

The Note Purchase Agreement contains customary representations and warranties of the OP and the Company as well as certain restrictive covenants, including limitations on the incurrence of indebtedness and requiring the Company to maintain certain financial ratios.

The Note Purchase Agreement provides for customary events of default that include, among other things (subject in certain cases to customary grace and cure periods):