Company: NXDT
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001356115-25-000021
Chunk: 19

Company: NEXPOINT DIVERSIFIED REAL ESTATE TRUST
Filing Date: 2025-08-14
Form: 10-Q
Item: Item 2
Chunk 19
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 because it was not yet stabilized, meaning construction or renovation was not completed. Non-Same Store properties include properties not yet stabilized. Our Same Store properties also exclude the Hospitality segment, as the properties in that segment were not held in the full comparable period.

The following table reflects the revenues, property operating expenses and NOI for the three months ended June 30, 2025 and 2024 for our Same Store and Non-Same Store properties (dollars in thousands):

56

For the Three Months Ended June 3020252024$ Change% ChangeRevenuesSame StoreRental income$449 $386 $63 16.3 %Same Store revenues449 386 63 16.3 %Non-Same StoreRental income3,264 3,600 (336)-9.3 %Other income287 374 (87)-23.3 %Rooms6,281 8,200 (1,919)-23.4 %Food and beverage750 812 (62)-7.6 %Non-Same Store revenues10,582 12,986 (2,404)-18.5 %Total revenues11,031 13,372 (2,341)-17.5 %Operating expensesSame StoreProperty operating expenses58 39 19 48.7 %Real estate taxes and insurance74 66 8 12.1 %Property management fees22 21 1 4.8 %Property general and administrative expenses4 14 (10)N/MSame Store operating expenses158 139 18 12.9 %Non-Same StoreProperty operating expenses5,465 6,717 (1,252)-18.6 %Real estate taxes and insurance1,499 1,708 (209)-12.2 %Property management fees365 166 199 N/MProperty general and administrative expenses1,612 2,214 (602)-27.2 %Non-Same Store operating expenses8,941 10,805 (1,864)-17.3 %Total operating expenses9,099 10,944 (1,846)-16.9 %Operating incomeNon-Same StoreRealized gains (losses)26 — 26 — %Total operating income26 — 26 — %NOISame Store317 247 70 28.3 %Non