Company: NREF
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001786248-25-000004
Chunk: 483

Company: NexPoint Real Estate Finance, Inc.
Filing Date: 2025-03-27
Form: 10-K
Item: Item 9A
Chunk 483
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, revolving credit facilities and stock warrants as well as the net equity of our CMBS B-Piece investments.

(2)Net equity represents the carrying value less borrowings collateralized by the investment.

(3)Current yield is the annualized income earned divided by the cost basis of the investment.

(4)The weighted-average life is weighted on current principal balance and assumes no prepayments. The maturity date for preferred equity investments represents the maturity date of the senior mortgage, as the preferred equity investments require repayment upon the sale or refinancing of the asset.

(5)The Company reclassified this investment from a mezzanine loan to senior loan effective April 1, 2024 because there was and as of December 31, 2024 there is, no senior mortgage on the property collateralized by the loan.

(6)The CMBS B-Pieces are shown on an unconsolidated 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,