Company: NREF
Filing Date: 2025-04-02
Form Type: DEF 14A
Source: 0001437749-25-010694
Chunk: 59

Company: NexPoint Real Estate Finance, Inc.
Filing Date: 2025-04-02
Form: DEF 14A
Chunk 59
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 of its Affiliated Parties with regard to acting as investment manager (or in a similar role) to other parties or persons. This and other future activities of our Manager and/or its Affiliated Parties may give rise to additional conflicts of interest. Such conflicts may be related to obligations that our Manager or its affiliates have to other clients.

Subject to prior approval of our Board, certain Affiliated Parties, including NexBank and Governance Re, Ltd., among others, may provide banking, agency, insurance and other services to us and its operating affiliates for customary fees, and neither we, nor our subsidiaries will have a right to any such fees.

Allocation Policy

If a potential investment is appropriate for either us or another entity managed by our Manager or its affiliates, such as HFRO, which as of December 31, 2024 has approximately $982.0 million of assets under management, NRESF, which as of December 31, 2024 has approximately $36.0 million of assets under management, NexPoint Capital, which as of December 31, 2024 has approximately $48.0 million of assets under management, GAF, which as of December 31, 2024 has approximately $280.0 million of assets under management,VineBrook, which as of December 31, 2024 has an enterprise value of approximately $2.7 billion, NXRT, which as of December 31, 2024 has an enterprise value of approximately $2.3 billion, NXDT, which as of December 31, 2024 has an enterprise value of approximately $617.6 million, and NHT, which as of December 31, 2024 has an enterprise value of approximately $151.9 million, our Manager and its affiliates, including their respective personnel, have an allocation policy that provides that opportunities will be allocated among those accounts for which participation in their respective opportunity is considered most appropriate, taking into account the following objective factors.

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First, the allocation policy looks to the investment objectives of the REITs managed by our Manager and its affiliates. For example, our targeted investments differ from the targeted investments of NXRT, which generally are direct ownership of well-located middle-income multifamily properties with value-add potential. We believe that most investment opportunities will be more appropriate for us, NXRT or other entities based on the differences in our primary investment objectives. We expect we will remain the primary vehicle in which investments are made in first-lien