Company: NREF
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001786248-25-000016
Chunk: 2

Company: NexPoint Real Estate Finance, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Item 1
Chunk 2
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Item 1. Financial Statements

1

Table of Contents

NEXPOINT REAL ESTATE FINANCE, INC. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

(in thousands, except share and per share amounts)June 30, 2025December 31, 2024(Unaudited)ASSETSCash and cash equivalents$9,056 $3,877 Restricted cash4,682 3,176 Net Operating Real Estate Investments64,718 121,836 Net Real Estate held for sale56,043 — Total Net Real Estate Investments120,761 121,836 Loans, held-for-investment, net ($24,047 and $28,036 with related parties, respectively) (1)474,203 497,544 Common stock investments, at fair value ($24,703 and $30,467 with related parties, respectively)50,816 57,389 Equity method investments ($1,539 and $1,504 with related parties, respectively)1,539 1,504 Mortgage loans, held-for-investment, net (2)279,587 263,395 Preferred stock investments, at fair value113,423 18,949 Accrued interest and dividends49,360 41,208 Mortgage loans held in variable interest entities, at fair value4,186,717 4,343,359 CMBS structured pass-through certificates, at fair value44,122 34,979 Stock warrant investments, at fair value65,634 27,400 Accounts receivable and other assets2,480 1,457 TOTAL ASSETS$5,402,380 $5,416,073 LIABILITIES AND STOCKHOLDERS' EQUITYLiabilities:Secured financing agreements, net ($9,940 and $9,869 with related parties, respectively)$233,908 $235,769 Master repurchase agreements260,947 243,454 Unsecured notes, net ($6,500 and $6,500 with related parties, respectively)221,802 221,001 Mortgages payable, net63,500 95,464 Mortgages payable held for sale, net31,824 — Accounts payable and other accrued liabilities12,376 9,458 Accrued interest payable11,507 10,020 Bonds payable held in variable interest