Company: NXDT
Filing Date: 2025-01-21
Form Type: 424B3
Source: 0001437749-25-001494
Chunk: 1656

Company: NEXPOINT DIVERSIFIED REAL ESTATE TRUST
Filing Date: 2025-01-21
Form: 424B3
Chunk 1656
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 |
| NexPoint SFR Operating Partnership, L.P.                 |     | Partnership Units |     |                      |  49,568 |     |                      |  (4,513 | ) |     |                         |   — |     |              |  1,203 | — |     |              |  (3,310 | ) |
| NexAnnuity Holdings, Inc.                                |     | Preferred Shares  |     |                      |  66,955 |     |                      |       — |   |     |                         |   — |     |              |    455 | — |     |              |     455 |   |
| Total                                                    |     |                   |     | $                    | 547,361 |     | $                    | (98,248 | ) |     | $                       | 498 |     | $            | 19,607 |   |     | $            | (78,143 | ) |

<div align='center'>41

I-1315</div>

15. Commitments and Contingencies

Commitments

On December 8, 2022 and in connection with a restructuring of NSP, the Company, together with the NSP Co-Guarantors, as guarantors, entered into a Sponsor Guaranty Agreement in favor of Extra Space pursuant to which the Company and the NSP Co-Guarantors guaranteed obligations of NSP with respect to accrued dividends on NSP’s newly created Series D Preferred Stock and two promissory notes in an aggregate principal amount of approximately $64.2 million issued to Extra Space. The guaranties by the Company and the NSP Co-Guarantors were capped at $97.6 million, and each of the Company and the NSP Co-Guarantors generally guaranteed the foregoing obligations of NSP up to the cap amount on a pro rata basis with respect to its percentage ownership of NSP’s common stock. On February 15, 2023, NSP paid down approximately $15.0 million of these promissory notes, resulting in an aggregate principal amount of approximately $49.2 million. On December 8, 2023, NSP paid down the remaining principal balance of $49.2 million. The NSP Series D Preferred Stock remains outstanding as of September 30, 2024. As of September 30, 2024, the outstanding NSP Series D Preferred Stock accrued dividends was $11.6 million, and