Company: NREF
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001786248-25-000004
Chunk: 94

Company: NexPoint Real Estate Finance, Inc.
Filing Date: 2025-03-27
Form: 10-K
Item: Item 1A
Chunk 94
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Table of Contents

NEXPOINT REAL ESTATE FINANCE, INC. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

(in thousands, except share and per share amounts)

December 31, 2024December 31, 2023ASSETSCash and cash equivalents$3,877 $13,824 Restricted cash3,176 2,825 Real estate investments, net121,836 126,551 Loans, held-for-investment, net ($28,036 and $22,989 with related parties, respectively) (1)497,544 328,460 Common stock investments, at fair value ($30,467 and $33,129 with related parties, respectively)57,389 61,529 Equity method investments ($1,504 and $0 with related parties, respectively)1,504 — Mortgage loans, held-for-investment, net (2)263,395 676,420 Preferred stock investments, at fair value18,949 14,776 Accrued interest and dividends41,208 22,033 Mortgage loans held in variable interest entities, at fair value4,343,359 5,677,763 CMBS structured pass-through certificates, at fair value34,979 41,212 MSCR Notes, at fair value— 10,378 Mortgage backed securities, at fair value— 38,270 Stock warrant investments27,400 — Accounts receivable and other assets1,457 4,312 TOTAL ASSETS$5,416,073 $7,018,353 LIABILITIES AND STOCKHOLDERS' EQUITYLiabilities:Secured financing agreements, net ($9,869 and $0 with related parties, respectively)$235,769 $649,558 Master repurchase agreements243,454 303,514 Unsecured notes, net ($6,500 and $6,500 with related parties, respectively)221,001 219,483 Mortgages payable, net95,464 95,657 Accounts payable and other accrued liabilities9,458 6,428 Accrued interest payable10,020 8,209 Bonds payable held in variable interest entities, at fair value4,029,214 5,289,997 Total Liabilities4,844,380 6,572,846 Redeemable Series