Company: NXDT
Filing Date: 2025-01-21
Form Type: 424B3
Source: 0001437749-25-001494
Chunk: 465

Company: NEXPOINT DIVERSIFIED REAL ESTATE TRUST
Filing Date: 2025-01-21
Form: 424B3
Chunk 465
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,119 |   |     |               | 11.73 | % | 3/8/2024      |
| Note B-1                      |     |                             |  12,729 |   |     |               |  7.73 | % | 3/8/2024      |
| Note B-2                      |     |                             |   3,160 |   |     |               | 11.73 | % | 3/8/2024      |
| Mezzanine Note 1              |     |                             |   2,784 |   |     |               | 11.73 | % | 3/8/2024      |
| Mezzanine Note 2              |     |                             |     398 |   |     |               | 11.73 | % | 3/8/2024      |
| Mortgages payable             |     |                             | 142,305 |   |     |               |       |   |               |
| Deferred financing costs, net |     |                             |    (119 | ) |     |               |       |   |               |
| Mortgages payable, net        |     | $                           | 142,186 |   |     |               |       |   |               |

The weighted average interest rate of the Company’s debt related to its Cityplace investment was 8.5% as of December 31, 2023 and 7.3% as of December 31, 2022.

The Loan Agreement contains customary events of default, including defaults in the payment of principal or interest, defaults in compliance with the covenants contained in the documents evidencing the loan, defaults in payments under any other security instrument covering any part of the property, whether junior or senior to the loan, and bankruptcy or other insolvency events. As of December 31, 2023, the Company believes it is in compliance with all covenants.

Notes Payable

On August 9, 2022, the Company borrowed approximately $13.3 million from the seller, Gabriel Legacy, LLC to finance its acquisition of 21.5 acres of land in Plano, Texas held through NexPoint Dominion Land, LLC, a wholly owned subsidiary of the OP. Due to the short term nature of the note, the fair value of the note is approximately the outstanding balance. The note bears interest at an annual rate equal to the WSJ Prime Rate and matures on August 8