Company: NXDT
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001628280-25-052132
Chunk: 17

Company: NEXPOINT DIVERSIFIED REAL ESTATE TRUST
Filing Date: 2025-11-13
Form: 10-Q
Item: Item 2
Chunk 17
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 2025, and 2024. Our Same Store properties exclude Cityplace Tower as of September 30, 2025 and 2024, because it was not yet stabilized, meaning construction or renovation was not completed. For the nine months ended September 30, 2025, and 2024, our Same Store properties also exclude the Hospitality segment, as the properties in that segment were not held in the full comparable period. Non-Same Store properties for the nine months ended September 30, 2025, and 2024 include properties not yet stabilized or that were not held for the full comparable period.

Consolidated NOI and Same Store NOI for the Three and Nine Months Ended September 30, 2025 and 2024

The following table, which has not been adjusted for the effects of NCI, reconciles our consolidated NOI for the three and nine months ended September 30, 2025 and 2024 to net income (loss), the most directly comparable GAAP financial measure (in thousands):

61

For the Three Months Ended September 30For the Nine Months Ended September 302025202420252024Net loss$(12,317)$(15,420)$(91,511)$(47,490)Adjustments to reconcile net loss to NOI:Advisory and administrative fees3,218 3,976 13,880 10,665 Corporate general and administrative expenses5,198 2,843 9,145 8,873 Income tax expense(995)700 (423)1,553 Depreciation and amortization3,858 4,510 11,795 11,408 Interest expense6,903 8,288 20,816 20,670 Non-operating property investment revenue (1)(10,166)(9,050)(34,129)(26,685)Realized (gains) losses from non-real estate investments(6)1 (4,987)21,876 Change in unrealized (gains) losses from non-real estate investments2,505 885 77,464 (2,251)Equity in (income) losses of unconsolidated equity method ventures581 (400)748 558 Impairment loss— 6,134 1,752 6,134 NOI$(1,221)$2,467 $4,550 $5,311 Less Non-Same StoreRe