Company: NXDT
Filing Date: 2025-01-21
Form Type: 424B3
Source: 0001437749-25-001494
Chunk: 661

Company: NEXPOINT DIVERSIFIED REAL ESTATE TRUST
Filing Date: 2025-01-21
Form: 424B3
Chunk 661
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 transfer of our shares of beneficial interest described above, including in Article XII of the Declaration, could delay, defer or prevent a transaction or a change in control that might involve a premium price for our common shares or otherwise be in the best interest of our shareholders.

Listing

Our common shares are listed on the NYSE under the symbol “NXDT.” The Series A Preferred Shares are listed on the NYSE under the symbol “NXDT PA.”

Transfer Agent and Registrar

The transfer agent and registrar for our common shares and Series A Preferred Shares is American Stock Transfer & Trust Company, LLC.

<div align='center'>12

I-426</div>

Exhibit 10.1

Execution Version

<div align='center'>ADVISORY AGREEMENT

BY AND AMONG

NEXPOINT DIVERSIFIED REAL ESTATE TRUST

AND

NEXPOINT REAL ESTATE ADVISORS X, L.P.

TABLE OF CONTENTS</div>

Page

| 1  | Definitions                                                             |  1 |
| 2  | Appointment                                                             |  4 |
| 3  | Duties of the Adviser                                                   |  4 |
| 4  | Authority of the Adviser                                                |  7 |
| 5  | No Partnership or Joint Venture                                         |  7 |
| 6  | Bank Accounts                                                           |  8 |
| 7  | Records; Access; Confidentiality                                        |  8 |
| 8  | Limitations on Activities                                               |  8 |
| 9  | Compensation                                                            |  8 |
| 10 | Expenses                                                                |  9 |
| 11 | Other Services                                                          |  9 |
| 12 | Other Activities of the Adviser                                         | 10 |
| 13 | Term and Termination                                                    | 10 |
| 14 | Payments and Duties Upon Termination                                    | 11 |
| 15 | Limitation of Liability, Exculpation and Indemnification by the Company | 11 |
| 16 | Indemnification by the Adviser                                          | 12 |
| 17 | Representations and Warranties                                          | 13 |
| 18 | Notices                                                                 | 14 |
| 19 | Modification                                                            | 15 |
| 20 | Severability                                                            | 15 |
| 21 | Governing Law; Waiver of Jury Trial                                     | 15 |
| 22 | Entire Agreement                                                        | 15 |
| 23 |