Company: NXDT
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001356115-25-000003
Chunk: 1177

Company: NEXPOINT DIVERSIFIED REAL ESTATE TRUST
Filing Date: 2025-03-31
Form: 10-K
Item: Item 6
Chunk 1177
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35,337)$(21,236)$(56,573)$(117,241)Adjustments to reconcile net income (loss) to NOI:Advisory and administrative fees13,28687914,16511,740Corporate general and administrative expenses9,9472,85612,8037,981Conversion expenses———1,203Income tax expense1,441(69)1,3722,731Depreciation and amortization11,6983,90215,60013,937Interest expense17,44310,90928,35215,902Non-operating property investment revenue²(34,300)(4,981)(39,281)(42,667)Realized (gains) losses from non-real estate investments21,479—21,4791,634Change in unrealized (gains) losses from non-real estate investments1,348—1,348108,249Equity in (income) losses of unconsolidated equity method ventures(129)—(129)306Impairment loss—7,1107,110—NOI$6,876 $(630)$6,246 $3,775 Less Non-Same StoreRevenues$(24,705)$(18,090)$(42,795)$(19,147)Operating expenses14,32622,73137,05716,310Same Store NOI$(3,503)$4,011 $508 $938 

(1)As of December 31, 2023, there was only one reporting segment.

(2)Non-operating property investment revenue is defined as revenue included in the consolidated financial statements that are from non-operating properties such as dividend income and interest income.

80

Consolidated NOI for Our Same Store and Non-Same Store Properties for the Years Ended December 31, 2024 and 2023

The following table reflects the revenues, property operating expenses and NOI for the years ended December 31, 2024 and 2023 for our Same Store and Non-Same Store properties (dollars in thousands):

For the Year Ended December 3120242023$ Change% ChangeRevenuesSame StoreRental income$1,147 $1,471 $(324)-22.0 %Same Store revenues1,147 1,471 (324)-22.0 %Non-Same StoreRental income14,531 18,839 (4,308)-22.9