Company: NXDT
Filing Date: 2025-01-21
Form Type: 424B3
Source: 0001437749-25-001494
Chunk: 2596

Company: NEXPOINT DIVERSIFIED REAL ESTATE TRUST
Filing Date: 2025-01-21
Form: 424B3
Chunk 2596
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 covenants pertaining to the nature of the applicable borrower’s business, management or ownership, acquisitions or dispositions of assets, mergers or dissolutions, the incurrence of additional liens on the assets of the applicable borrower, and the enforcement thereof. If an event of default occurs, the applicable lender may, among other things, require the applicable borrower to repay all amounts outstanding under the Loan Agreement or foreclose on the collateral thereunder. Upon the occurrence of certain events as described above, the Company may also be required to make such repayment. Investors are not third-party beneficiaries of, and should not rely upon, any such representations, warranties and covenants.

<div align='center'>I-2084</div>

The description of the material terms of the Guaranty is qualified in its entirety by reference to the Guaranty, which is filed as Exhibit 10.1 to this Current Report on Form 8-K and is hereby incorporated by reference into this Item 1.01.

| Item 1.02. | Termination of a Material Definitive Agreement |

A portion of the loan proceeds from the Loan Agreement was used to repay and discharge existing loans of Borrower that the Company guaranteed on substantially similar terms as the Guaranty. As a result of such loans being repaid by Borrower, on October 4, 2024, the following guaranties and related agreements made by the Company were terminated (collectively, the “Terminated Guaranties”):

The co-guarantors on certain of the Terminated Guaranties, Highland Opportunities and Income Fund and Highland Global Allocation Fund, are each managed by an affiliate of NexPoint Real Estate Advisors X, L.P., the external adviser of the Company.

| Item 2.03. | Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. |

The information contained under “Item 1.01. Entry into a Material Definitive Agreement” is incorporated herein by reference.

| Item 9.01 | Financial Statements and Exhibits. |

| Exhibit 
 Number  
 10.1    | Guaranty Agreement, dated October 4, 2024, by the Company for the benefit of Citi Real Estate Funding Inc. and JPMorgan Chase Bank, N.A. | Exhibit Description |
|:--------|:-----------------------------------------------------------------------------------------------------------------------------------------|:--------------------|
| 104     | Cover Page Interactive Data File (embedded within the Inline XBRL document)