Company: NXDT
Filing Date: 2025-01-21
Form Type: 424B3
Source: 0001437749-25-001494
Chunk: 2306

Company: NEXPOINT DIVERSIFIED REAL ESTATE TRUST
Filing Date: 2025-01-21
Form: 424B3
Chunk 2306
---
 any material litigation currently threatened against the Company or its properties or subsidiaries.

Environmental liabilities could have a material adverse effect on the Company’s business, assets, cash flows or results of operations. As of March 31, 2024, the Company was not aware of any environmental liabilities. There can be no assurance that material environmental liabilities do not exist.

<div align='center'>34

I-1844</div>

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.

14. Operating Leases

Lessor Accounting

The following table summarizes the future minimum lease payments to the Company as the lessor under the operating lease obligations at March 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 Leases |        |
|:-----------|:----|:-----------------|-------:|
| 2024       |     | $                |  7,605 |
| 2025       |     |                  |  9,924 |
| 2026       |     |                  |  8,600 |
| 2027       |     |                  |  7,712 |
| 2028       |     |                  |  4,826 |
| Thereafter |     |                  | 50,407 |
| Total      |     | $                | 89,074 |

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 (in thousands) for the three months ended March 31, 2024:

|                          |     | For the Three Months Ended March 31, 2024 |     |
|:-------------------------|:----|:------------------------------------------|----:|
| Tenant                   |     | Rental Income                             |     |
| Neiman Marcus Group, LLC |     | $                                         | 587 |
| Saputo Dairy Foods       |     | $                                         | 497 |

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 (in thousands) for the three months ended March 31, 2023