Company: NXDT
Filing Date: 2025-06-12
Form Type: S-4
Source: 0001437749-25-020201
Chunk: 32

Company: NEXPOINT DIVERSIFIED REAL ESTATE TRUST
Filing Date: 2025-06-12
Form: S-4
Chunk 32
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 of operations.

NXDT Segment

Cityplace Tower

Cityplace Tower is a Class-A office building that was originally constructed in 1988, located less than one mile from downtown Dallas. Cityplace Tower is 42 stories and currently contains 1.36 million square feet of office space and common areas. NXDT acquired Cityplace Tower in August of 2018 for $195.75 million.

Old NXDT has debt on the Cityplace Tower pursuant to a Loan Agreement, originally dated August 15, 2018 and subsequently amended (the “Loan Agreement”). The debt is limited recourse to Old NXDT and encumbers the property. The debt had an original maturity of September 8, 2022, and Old NXDT deferred the maturity date with the lender to May 8, 2023, with the possibility to extend for an additional four months to September 8, 2023 provided certain metrics were met. On May 8, 2023, the lender agreed to defer the maturity of the Cityplace debt by four months to September 8, 2023. Also on May 8, 2023, the parties to the Loan Agreement agreed to convert the index upon which the interest rate is based to SOFR effective as of the first interest period beginning on or after May 8, 2023. On September 8, 2023, the lender agreed to defer the maturity of the Cityplace debt by six months to March 8, 2024. On March 8, 2024, the lender agreed to defer the maturity of the Cityplace debt by twelve months to March 8, 2025. On April 15, 2025, the lender agreed to defer the maturity of the Cityplace debt by twelve months to March 8, 2026. The below table contains summary information related to the mortgages payable (dollars in thousands):

| Note A-1          |     | Outstanding     
 principal as of 
 March 31, 2025  |  99,015 |     | Interest 
 Rate     |  6.69 | % |     | Maturity 
 Date     
 3/8/2026 |
|:------------------|:----|:----------------|--------:|:----|:---------|------:|:--|:----|:---------|
| Note A-2          |     |                 |  12,465 |     |          |  6.69 | % |     |