Company: NXDT
Filing Date: 2025-01-21
Form Type: 424B3
Source: 0001437749-25-001494
Chunk: 2345

Company: NEXPOINT DIVERSIFIED REAL ESTATE TRUST
Filing Date: 2025-01-21
Form: 424B3
Chunk 2345
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STATE TRUST

| Signature       
 /s/ Jim Dondero |     | Title                                          
 President and Trustee                          |     | Date         
 May 10, 2024 |
|:----------------|:----|:-----------------------------------------------|:----|:-------------|
| Jim Dondero     |     | -Principal Executive Officer                   |     |              |
| /s/ Brian Mitts |     | Chief Financial Officer, Executive VP-Finance, 
 Treasurer, Assistant Secretary and Trustee     |     | May 10, 2024 |
| Brian Mitts     |     | -Principal Financial Officer and Principal     
 Accounting Officer                             |     |              |

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I-1891 Exhibit 31.1 CERTIFICATION OF PRINCIPAL EXECUTIVE OFFICER PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002 I, Jim Dondero, certify that:</div>

| 1. | I have reviewed this Quarterly Report on Form 10-Q of NexPoint Diversified Real Estate Trust; |

| 2. | Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; |

| 3. | Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report; |

| 4. | The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant