Company: NXDT
Filing Date: 2025-01-21
Form Type: 424B3
Source: 0001437749-25-001494
Chunk: 767

Company: NEXPOINT DIVERSIFIED REAL ESTATE TRUST
Filing Date: 2025-01-21
Form: 424B3
Chunk 767
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 trust |                             |
| By:                               | /s/ Matt McGraner           |
|                                   | Name: Matt McGraner         |
|                                   | Title: Authorized Signatory |

<div align='center'>-15-

I-514

SCHEDULE I

PROPERTY OWNER BORROWER</div>

| 1. | Alameda Capital, LLC |

| 2. | 453 Washington Avenue North Haven, LLC |

| 3. | Storage Partners of Miami I, LLC |

| 4. | PLG Jacksonville Storage, LLC |

| 5. | Miami City Self Storage Doral 77th Owner, LLC |

| 6. | Miami City Self Storage Pembroke Pines Blvd Owner, LLC |

| 7. | Lauderdale Storage Builders LLC |

| 8. | Edison Capital Jacksonville LLC |

| 9. | East Colonial Capital Orlando LLC |

| 10. | Sand Lake Road Capital Orlando LLC |

| 11. | Phillips Skyway Storage LLC |

| 12. | Phillips Ulmerton Storage LLC |

| 13. | Phillips Brandon Crossroads Storage LLC |

| 14. | Monroe Atlanta Owner, LLC |

| 15. | PVR Storage, LLC |

| 16. | Mequity Vinings, LLC |

| 17. | Northside Atlanta Owner, LLC |

| 18. | BT Storage Investments, LLC |

| 19. | Hurstbourne Storage, LLC |

| 20. | Severn Property LLC |

| 21. | 10 Hampshire Property LLC |

| 22. | 1835 Washington Self Storage LLC |

| 23. | 10th & Seigle Ave., LLC |

| 24. | Mallard Creek Store #2, LLC |

| 25. | Five Points Storage Owner, LLC |

| 26. | Mequity 150th Street, LLC |

| 27. | LR-Bayshore 1, LLC |

| 28. | Bakery Square Self Storage, LLC |

| 29. | 7807 Kingston Pike, LLC |

<div align='center'>-16-

I-515</div>

Exhibit 10.1

<div align='center'>FIFTH AMENDMENT

TO

AMENDED AND RESTATED

LIMITED PARTNERSHIP AGREEMENT
OF
NEXPOINT REAL ESTATE FINANCE OPERATING PARTNERSHIP, L.P.
a Delaware limited partnership</div>

THIS FIFTH AMENDMENT (