Company: NXDT
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001356115-25-000014
Chunk: 77

Company: NEXPOINT DIVERSIFIED REAL ESTATE TRUST
Filing Date: 2025-05-15
Form: 10-Q
Item: Item 2
Chunk 77
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 Loan exercise its remedies under the relevant loan documents, up to and including the acceleration of the full amount of the PC & B Loan, it may have a material adverse impact on our financial condition, liquidity and results of operations. If we are unable to pay the amount due upon acceleration, the lender under the PC & B Loan may elect to foreclose on the Park City and Bradenton properties to satisfy the indebtedness.

Convertible Notes, NHT

NHT OP also entered into several convertible notes with affiliates of the NHT Adviser since January 8, 2019. The fixed rate notes have rates ranging from 2.25% to 7.50% (which were market interest rates at the time of their issuance) while outstanding and mature in 20 years from their date of issuance. As of March 31, 2025, the net carrying amount of the convertible notes due to affiliates of the NHT Adviser was $50.7 million.

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Obligations, Commitments and Investment Opportunities

The following table summarizes our contractual obligations and commitments as of March 31, 2025 for the next five calendar years subsequent to March 31, 2025.

Payments Due by Period (in thousands)Total20252026202720282029ThereafterProperty Level DebtPrincipal payments$266,680 $79,454 $177,226 $— $— $10,000 $— Interest expense18,898 13,092 3,217 1,000 1,000 589 — Total$285,578 $92,546 $180,443 $1,000 $1,000 $10,589 $— Prime Brokerage BorrowingPrincipal payments$1,242 $— $— $— $— $— $1,242 (1)Interest expense285 45 60 60 60 60 — (1)Total$1,527 $45 $60 $60 $60 $60 $1,242 Series A Preferred SharesDistribution paymentsN/A(2)$— $1,733 $2,310 $2,310 $2,310 N/A(2)Series B Preferred SharesDistribution paymentsN/A(2)$— $6 $8 $8 $8 N/A(2)Credit FacilityPrincipal payments$82,471