Company: NREF
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001786248-25-000004
Chunk: 142

Company: NexPoint Real Estate Finance, Inc.
Filing Date: 2025-03-27
Form: 10-K
Item: Item 1B
Chunk 142
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,500 Principal borrowings247,606 55,239 Principal repayments(721,943)(121,094)Principal repayments on mortgages payable(240)— Unsecured notes offering— 13,557 Loss on extinguishment of debt488 — Accretion of discounts1,518 966 Amortization of deferred financing costs47 (45)Balances as of December 31,$795,688 $1,268,212 Schedule of Debt MaturitiesThe aggregate scheduled maturities, including amortizing principal payments, of total debt for the next five calendar years subsequent to December 31, 2024 are as follows (in thousands):YearRecourseNon-recourseTotal2025 (1)$167,520 $272,018 $439,538 2026180,000 9,284 189,284 20276,500 — 6,500 202832,480 66,543 99,023 2029— 35,888 35,888 Thereafter— 29,070 29,070 $386,500 $412,803 $799,303 (1)The transactions in place in the master repurchase agreement with Mizuho have a one-month to two-month tenor and are expected to roll accordingly.

10. Fair Value of Financial Instruments

Fair-value measurements are determined based on the assumptions that market participants would use in pricing an asset or liability. As a basis for considering market-participant assumptions in fair-value measurements, ASC 820 establishes a fair-value hierarchy that distinguishes between market-participant assumptions based on market data obtained from sources independent of the reporting entity (observable inputs that are classified within Levels 1 and 2 of the hierarchy) and the reporting entity’s own assumptions about market-participant assumptions (unobservable inputs classified within Level 3 of the hierarchy):•Level 1 inputs are adjusted, quoted prices in active markets for identical assets or liabilities at the measurement date.•Level 2 inputs are other than quoted prices that are observable for the asset or liability, either directly or indirectly. Level 2 inputs may include quoted prices for similar instruments in active markets and inputs that are observable for the asset or liability (other than quoted prices), such as interest rates and yield curves, that are observable at commonly quoted intervals.•Level 3 inputs are unobservable inputs for the asset or liability and include situations where there is little, if any, related market activity for the