Company: NXDT
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001356115-25-000003
Chunk: 1295

Company: NEXPOINT DIVERSIFIED REAL ESTATE TRUST
Filing Date: 2025-03-31
Form: 10-K
Item: Item 4
Chunk 1295
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 Company was not aware of any environmental liabilities. There can be no assurance that material environmental liabilities do not exist.Claymore, Allenby and Haygood are engaged in ongoing litigation that could result in a possible gain contingency to the Company. The probability, timing, and potential amount of recovery, if any, are unknown.

16. Leases

Lessor Accounting

144

The following table summarizes the future minimum lease payments to the Company as the lessor under the operating lease obligations at December 31, 2024 (in thousands). These amounts do not reflect future rental revenues from renewal or replacement of existing leases. Reimbursements of operating expenses and variable rent increases are excluded from the table below.Year:Operating Leases2025$8,408 20267,74620277,02120284,84420294,138Thereafter13,343Total$45,500 The following table lists the tenants where the rental revenue from the tenants represented 10% or more of total rental income in the Company’s Consolidated Statements of Operations and Comprehensive Income (Loss) (in thousands) for the year ended December 31, 2024:For the Year Ended December 31, 2024TenantRental IncomeNeiman Marcus Group, LLC$2,180 The following table lists the tenants where the rental revenue from the tenants represented 10% or more of total rental income in the Company’s Consolidated Statements of Operations and Comprehensive Income (in thousands) for the year ended December 31, 2023:For the Year Ended December 31, 2023TenantRental IncomeHudson Advisors LLC$2,610 Ground LeaseA subsidiary of NHT OP has a ground lease situated in Durham County, North Carolina, with a subsidiary of OSL, an entity that may be deemed an affiliate of the Adviser through common beneficial ownership. The lease has a remaining term of 4 years and a discount rate of 4.6% and contains five one-year extension options. As of December 31, 2024, the carrying amount of the right-of-use asset is $0.7 million, and the lease liability is $0.7 million.The future minimum lease payments under the operating lease as of December 31, 2024 are as follows:Years Ending December 31,Minimum Lease Payment2025$204 202620820272122028217Total undiscounted lease payments841Less: Present Value discount(120)Total lease liability$721 

145

For the