Company: NXDT
Filing Date: 2025-01-21
Form Type: 424B3
Source: 0001437749-25-001494
Chunk: 2274

Company: NEXPOINT DIVERSIFIED REAL ESTATE TRUST
Filing Date: 2025-01-21
Form: 424B3
Chunk 2274
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 |                          | (250 | ) |     |        | (20,676 | ) |
| Total Operating Properties                |     | $    | 47,708 |     | $             | 190,741 |   |     | $                       |  3,862 |   |     | $                | (4,274 | ) |     | $                        | 19,993 |     | $                        |  112 |   |     | $      | 258,142 |   |

<div align='center'>10

I-1820</div>

As of December 31, 2023, the major components of the Company’s investments in real estate held by SPEs the Company consolidates, which are included in "Consolidated Real Estate Investments" on the consolidated balance sheet, were as follows (in thousands):

| Operating Properties                      |     | Land |        |     | Buildings and 
 Improvements  |         |   |     | Intangible Lease Assets |        |   |     | Intangible Lease 
 Liabilities      |        |   |     | Construction in Progress |        |     | Furniture, Fixtures, and 
 Equipment                |      |   |     | Totals |         |   |
|:------------------------------------------|:----|:-----|-------:|:----|:--------------|--------:|:--|:----|:------------------------|-------:|:--|:----|:-----------------|-------:|:--|:----|:-------------------------|-------:|:----|:-------------------------|-----:|:--|:----|:-------|--------:|:--|
| White Rock Center                         |     | $    |  1,315 |     | $             |  10,345 |   |     | $                       |  1,921 |   |     | $                |   (101 | ) |     | $                        |      — |     | $                        |    5 |   |     | $      |  13,485 |   |
| 5916 W Loop 289                           |     |      |  1,081 |     |               |   2,938 |   |     |                         |      — |   |     |                  |      — |   |     |                          |      — |     |                          |    — |   |     |        |   4,019 |   |
| Cityplace Tower