Company: NXDT
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001356115-25-000003
Chunk: 163

Company: NEXPOINT DIVERSIFIED REAL ESTATE TRUST
Filing Date: 2025-03-31
Form: 10-K
Item: Item 3
Chunk 163
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$859 $2,376 $29,890 

115

As of December 31, 2023, the major components of the Company’s investments in real estate held by SPEs the Company consolidates, which are included in "Consolidated Real Estate Investments" on the Consolidated Balance Sheet, were as follows (in thousands):Operating PropertiesLandBuildings and ImprovementsIntangible Lease AssetsIntangible Lease LiabilitiesConstruction in ProgressFurniture, Fixtures, and EquipmentTotalsWhite Rock Center$1,315 $10,345 $1,921 $(101)$— $5 $13,485 5916 W Loop 2891,081 2,938 — — — — 4,019 Cityplace Tower18,812 192,930 9,058 (6,669)19,177 357 233,665 NexPoint Dominion Land, LLC26,500 — — — — — 26,500 47,708 206,213 10,979 (6,770)19,177 362 277,669 Accumulated depreciation and amortization— (13,490)(6,798)2,203 — (237)(18,322)Total Operating Properties$47,708 $192,723 $4,181 $(4,567)$19,177 $125 $259,347 Depreciation expense was $13.6 million for the year ended December 31, 2024 and $9.4 million for the year ended December 31, 2023. Amortization expense related to the Company’s intangible lease assets was $1.6 million for the year ended December 31, 2024 and $3.9 million for the year ended December 31, 2023. Amortization expense related to the Company's intangible lease liabilities was $1.4 million for the year ended December 31, 2024 and $1.5 million for the year ended December 31, 2023. The net amount amortized as an increase to rental revenue for capitalized above and below-market lease intangibles was $1.0 million for the year ended December 31, 2024 and $1.2 million for the year ended December 31, 2023.

116

AcquisitionsDuring the year ended December