Company: NREF
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001786248-25-000004
Chunk: 353

Company: NexPoint Real Estate Finance, Inc.
Filing Date: 2025-03-27
Form: 10-K
Item: Item 1C
Chunk 353
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 basis reflecting the value of our investments.

(7)The number shown represents the notional value on which interest is calculated for the CMBS I/O Strips. CMBS I/O Strips receive no principal payments and the notional value decreases as the underlying loans are paid off.

(8)On January 9, 2025, the mezzanine loan term was extended to April 9, 2025.

(9)The Company, through the Subsidiary OPs, invested $0.7 million on March 1, 2024, $0.3 million on June 30, 2024, $0.1 million on September 20, 2024 and approximately $0.1 million on October 28, 2024 in this preferred equity investment.

(10)Real Estate is a 204-unit multifamily property. As of December 31, 2024, the property was 95.6% occupied, with effective rent per occupied unit of $1,801 per month.

(11)Real Estate is a 280-unit multifamily property. As of December 31, 2024, the property was 93.9% occupied with effective rent per occupied unit of $1,637 per month.

The following table details overall statistics for our portfolio as of December 31, 2024 (dollars in thousands):

TotalPortfolioFloating RateInvestmentsFixed RateInvestmentsCommon EquityInvestmentsReal Estate InvestmentsStock Warrant InvestmentsNumber of investments832053721Principal balance (1)$1,153,218 $435,382 $717,836 N/AN/AN/ACarrying value$1,335,263 $433,161 $693,973 $58,893 $121,836 $27,400 Weighted-average cash coupon7.16 %10.32 %5.24 %N/AN/AN/AWeighted-average all-in yield9.94 %12.37 %8.42 %N/AN/AN/A

(1)Cost is used in lieu of principal balance for CMBS I/O Strips.

Liquidity and Capital Resources

Our short-term liquidity requirements consist primarily of funds necessary to pay for our ongoing commitments to repay borrowings, maintain our investments, make distributions to our stockholders and other general business needs. Our investments generate liquidity on an ongoing basis through principal and interest payments, prepayments and dividends. We believe that