Company: NREF
Filing Date: 2025-01-08
Form Type: 8-K
Source: 0001437749-25-000731
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Company: NexPoint Real Estate Finance, Inc.
Filing Date: 2025-01-08
Form: 8-K
Item: Item 1.01
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Item 1.01 Entry Into a Material Definitive Agreement.

NexPoint Real Estate Finance, Inc. (the “ Company”) previously announced that on May 10, 2024, the Company, through its subsidiary NREF OP IV, L. P. (“ OP IV”); NexPoint Diversified Real Estate Trust Operating Partnership, L. P. (“ NXDT OP”), the operating partnership of NexPoint Diversified Real Estate Trust, an entity that is advised by an affiliate of the Company’s external manager NexPoint Real Estate Advisors VII, L. P. (our “ Manager”); and The Ohio State Life Insurance Company (“ OSL”), an entity that may be deemed an affiliate of the Manager through common beneficial ownership, entered into an Assignment and Assumption and Co-Lender Agreement (the “ Initial Assignment Agreement”), pursuant to which OP IV assigned the right to fund up to 9% of a loan made to IQHQ-Alewife Holdings, LLC (the “ Alewife Loan”) to NXDT OP and allocated the right to fund up to 9% of the Alewife Loan to OSL.

Effective January 2, 2025, the Company, through OP IV, entered into an Assignment and Assumption and Co-Lender Agreement (the “ Assignment Agreement” and, together with the Initial Assignment Agreement, the “ Assignment Agreements”) with OSL pursuant to which OP IV assigned $7.5 million interest in the Alewife Loan to OSL for cash and increased OSL’s allocation of the right to fund to up to 14.4896% of the Alewife Loan. In addition, under the Assignment Agreement, at any time and from time to time, NREF may purchase up to all of the amounts funded by OSL in the Alewife Loan from OSL.

Pursuant to the Assignment Agreements, upon receipt of a draw request, NXDT OP and OSL have the right to elect to fund an amount equal or greater than zero and up to (i) 9% or 14.4896%, respectively, of the total amount of all advances previously made under the Alewife Loan plus the amount of the then current borrowing, (ii) less the total amount of advances previously made by NXDT OP and OSL, respectively. OP IV is required to fund any amounts not funded by OSL and NXDT OP under the Assignment Agreements. At any time that NXDT OP and OSL have funded less than their respective percentages of all advances made under