Company: NXDT
Filing Date: 2025-01-30
Form Type: 424B5
Source: 0001437749-25-002263
Chunk: 2

Company: NEXPOINT DIVERSIFIED REAL ESTATE TRUST
Filing Date: 2025-01-30
Form: 424B5
Chunk 2
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 or reduce the dealer manager fee with respect to sales of Series B Preferred Shares in its sole discretion. See “Plan of Distribution.” |

| (4) | Our dealer manager will reallow all or any portion of the selling commissions to the participating broker-dealer who sold the Series B Preferred Shares. In addition, our dealer manager may also reallow a portion of the dealer manager fee to participating broker-dealers as a non-accountable marketing allowance. The amount of the reallowance of selling commissions to any participating broker-dealer will be determined pursuant to the participating broker-dealer agreement. The amount of reallowance of the dealer manager fee will be determined by the dealer manager in its sole discretion. |
| (5) | To the extent a participating broker-dealer reduces its selling commissions below 7.0%, the offering price per share of Series B Preferred Shares will be decreased by an amount equal to such reduction. No selling commissions will apply for Series B Preferred Shares sold in our “friends and family” program. See “Plan of Distribution.”                                                                                                                                                                                                                                                                |

The dealer manager for this offering is NexPoint Securities, Inc. (“NexPoint Securities”), an affiliate of our Adviser. The dealer manager is not required to sell any specific number or dollar amount of Series B Preferred Shares, but will use its “reasonable best efforts” to sell the Series B Preferred Shares offered. The minimum permitted purchase is generally $5,000, but purchases of less than $5,000 may be made in the sole discretion of the dealer manager. This offering will terminate on the earlier of the date we sell all 16,000,000 shares of Series B Preferred Shares and August 1, 2027 (which is the third anniversary of the effective date of the registration statement of which this prospectus supplement and accompanying prospectus form a part), which may be extended by our board of trustees (our “Board”) in its sole discretion. Our Board may elect to terminate this offering at any time.

We will sell our Series B Preferred Shares through The Depository Trust Company (“DTC”) settlement (“DTC Settlement”) or through Direct Registration System settlement (“DRS Settlement”). We may also utilize Delivery Versus Payment settlement (“DVP Settlement”), which is a type of DTC Settlement. Investors who utilize DTC Settlement will not have their funds held in escrow. Investors who are permitted to utilize the DRS Settlement method will pay the full purchase price for their shares to the escrow agent (as set forth in the subscription agreement),