Company: NXDT
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001356115-25-000014
Chunk: 109

Company: NEXPOINT DIVERSIFIED REAL ESTATE TRUST
Filing Date: 2025-05-15
Form: 10-Q
Item: Item 1A
Chunk 109
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)$(4,196)$(35,106)$(21,548)Adjustments to reconcile net loss to NOI:Advisory and administrative fees3,3413013,6423,246Corporate general and administrative expenses2,3555722,9272,835Income tax expense9612521,213550Depreciation and amortization2,7921,1173,9092,796Interest expense3,7263,5507,2764,531Non-operating property investment revenue²(13,630)(305)(13,935)(8,731)Realized (gains) losses from non-real estate investments(1,530)—(1,530)21,872Change in unrealized (gains) losses from non-real estate investments33,322—33,322(6,290)Equity in (income) losses of unconsolidated equity method ventures357—3571,154Impairment loss—1,7521,752—NOI$783 $3,043 $3,827 $415 Less Non-Same StoreRevenues$(3,538)$(11,239)$(14,777)$(3,752)Operating expenses3,3767,77811,1543,507Same Store NOI$622 $(418)$204 $170 

(1)As of March 31, 2024, there was only one reporting segment.

(2)Non-operating property investment revenue is defined as revenue included in the consolidated financial statements that are from non-operating properties such as dividend income and interest income.

50

Consolidated NOI for Our Same Store and Non-Same Store Properties for the Three Months Ended March 31, 2025 and 2024

The following table reflects the revenues, property operating expenses and NOI for the three months ended March 31, 2025 and 2024 for our Same Store and Non-Same Store properties (dollars in thousands):

For the Three Months Ended March 3120252024$ Change% ChangeRevenuesSame StoreRental income$359 $322 $37 11.5 %Same Store revenues359 322 37 11.5 %Non-Same StoreRental income3,286 3,725 (439)-11.8 %Other income252 27 225 N/M(1)Rooms10,350 — 10,350 — %Food and beverage889