Company: NREF
Filing Date: 2025-04-02
Form Type: DEF 14A
Source: 0001437749-25-010694
Chunk: 45

Company: NexPoint Real Estate Finance, Inc.
Filing Date: 2025-04-02
Form: DEF 14A
Chunk 45
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 in OP Units. A total of 564,334 OP Units were issued to the BP Contributors, which was calculated by dividing the total consideration of $10.0 million by the combined book value of the Company’s common stock and the SubOP Units, on a per share or unit basis, as of March 31, 2023, or $17.72 per OP Unit. The Company additionally contributed an aggregate of approximately $1.7 million during the year ended December 31, 2023 and an aggregate of approximately $1.1 million during the year ended December 31, 2024. Buffalo Pointe owns a stabilized multifamily property located in Houston, Texas with 93.5% occupancy as of December 31, 2024. The preferred equity investment pays current interest at a rate of 6.5%, deferred interest at a rate of 4.5%, has a loan-to-value ratio of 87.4% and a maturity date of May 1, 2030.

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Pursuant to the second amended and restated limited partnership agreement of the OP (the “OP LPA”) and the Buffalo Pointe Contribution Agreement, the BP Contributors have the right to cause our OP to redeem their OP Units for cash or, at our election, shares of our common stock on a one-for-one basis, subject to adjustment, as provided and subject to the limitations in our OP LPA, provided the OP Units have been outstanding for at least one year and our stockholders have approved the issuance of shares of common stock to the BP Contributors. On May 11, 2021, our stockholders approved the issuance of such shares upon the exercise of the BP Contributors’ redemption rights.

NexPoint Storage Partners

The Company holds 41,963 shares, or approximately 25.7%, of the outstanding common stock of NSP, a self-storage REIT that is indirectly managed by an affiliate of the Manager. The Company’s fair value measurement of this investment as of December 31, 2024 was $30.5 million. On December 8, 2022 and in connection with a restructuring of NSP, the Company, through a subsidiary (“REIT Sub”), together with NXDT, Highland Income Fund (“HFRO”) and NRESF (collectively, the “Co-Guarantors”), as guarantors, entered into a Sponsor Guaranty Agreement (the “Sponsor Guaranty) in favor of