Company: NREF
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001786248-25-000004
Chunk: 465

Company: NexPoint Real Estate Finance, Inc.
Filing Date: 2025-03-27
Form: 10-K
Item: Item 9A
Chunk 465
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 %4,682 66,442 7.05 %(2,464)-52.6 %Bridge loan— N/AN/A346 6,787 5.10 %(346)(100.0)%MSCR notes1,341 10,267 13.06 %590 4,385 13.45 %751 127.3 %Mortgage backed securities3,708 32,450 11.43 %1,152 11,025 10.45 %2,556 221.9 %Total interest income$68,358 $1,109,343 6.16 %$77,988 $1,142,831 6.82 %$(9,630)(12.3)%Interest expenseRepurchase agreements(22,576)(323,443)6.98 %(11,280)(147,850)7.63 %(11,296)100.1 %Long-term seller financing(15,032)(678,245)2.22 %(15,817)(822,820)1.92 %785 (5.0)%Unsecured Notes(13,952)(207,697)6.72 %(13,158)(201,697)6.52 %(794)6.0 %Total interest expense$(51,560)$(1,209,384)4.26 %$(40,255)$(1,172,367)3.43 %$(11,305)28.1 %Net interest income (3)$16,798 $37,733 $(20,935)(55.5)%

(1)Average balances for the SFR Loans, the mezzanine loans and preferred equity are calculated based upon carrying values.

(2)Yield calculated on an annualized basis.

(3)Net interest income is calculated as the difference between total interest income and total interest expense.

Other Income (Loss)

Change in net assets related to consolidated CMBS variable interest entities. Includes unrealized gain (loss) based on changes in the fair value of the assets and liabilities of the CMBS trusts and net interest earned on the consolidated CMBS trusts. See Note 4 to our consolidated financial statements for additional information.

Change in unrealized gain (loss) on CMBS structured pass-through certificates. Includes unrealized gain (loss) based on changes in the fair value of the