Company: NREF
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001786248-25-000004
Chunk: 600

Company: NexPoint Real Estate Finance, Inc.
Filing Date: 2025-03-27
Form: 10-K
Item: Item 15
Chunk 600
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 (loss) on CMBS structured pass-through certificates1,925 1,533 (12,664)Change in unrealized gain (loss) on MSCR Notes(13)65 (53)Change in unrealized gain (loss) on mortgage backed securities763 467 (1,230)Total$2,959 $4,970 $(8,279)

F-28

Table of Contents

8. Real Estate Investments, net

On December 31, 2021, the Company acquired a 204-unit multifamily property in Charlotte, North Carolina (Hudson Montford). On October 10, 2023, the Company exercised its right to terminate and replace the existing manager of SPG Alexander JV LLC, which owns a 280-unit multifamily property in Atlanta, Georgia. The Company, through its subsidiaries, holds both preferred and common equity investment in SPG Alexander JV LLC and also solely owns the replacement manager. As such, the Company is the primary beneficiary of SPG Alexander JV LLC and consolidates the property within our consolidated financial statements. The investment was considered an asset acquisition, and the fair value of the components of the investment as of October 10, 2023 totaled $68.8 million. The total value consisted of $7.9 million of land, $59.0 million of buildings and improvements, $0.6 million of furniture, fixtures, and equipment, and $1.3 million of intangible assets.As of December 31, 2024, the components of the Company's investments in multifamily properties were as follows (in thousands):Real Estate Investments, NetLandBuildings andImprovementsIntangible LeaseAssetsConstruction in ProgressFurniture,Fixtures andEquipmentTotalsHudson Montford$10,996 $50,204 $— $— $1,018 $62,218 Alexander at the District7,806 59,331 — 2 1,229 68,368 Accumulated depreciation and amortization— (7,662)— — (1,088)(8,750)Total Real Estate Investments, Net$18,802 $101,873 $— $2 $1,159 $121,836 As of December 31, 2023, the components of the Company's investments in multifamily properties were as follows (in thousands):Real Estate Investments, NetLandBuild