Company: NXDT
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001356115-25-000014
Chunk: 141

Company: NEXPOINT DIVERSIFIED REAL ESTATE TRUST
Filing Date: 2025-05-15
Form: 10-Q
Item: Item 5
Chunk 141
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 the addition of fees paid to the NHT Adviser pursuant to the NHT Advisory Agreement from the consolidation of NHT. 

Property general and administrative expenses. Property general and administrative expenses were $2.0 million for the three months ended March 31, 2025, compared to $0.7 million for the three months ended March 31, 2024, which was an increase of approximately $1.3 million. The increase between the periods is primarily attributed to the NHT consolidation.

Corporate general and administrative expenses. Corporate general and administrative expenses were $2.9 million for the three months ended March 31, 2025, compared to $2.8 million for the three months ended March 31, 2024, which was an increase of approximately $0.1 million. The increase between periods was primarily due to an increase in legal and professional fees.

Depreciation and amortization. Depreciation and amortization costs were $3.9 million for the three months ended March 31, 2025, compared to $2.8 million for the three months ended March 31, 2024, which was an increase of approximately $1.1 million. This change reset the depreciable basis of our properties as well as caused the recognition of new intangible lease assets. The increase between the periods was primarily due to the NHT consolidation.

Impairment loss. Impairment loss was $1.8 million for the three months ended March 31, 2025, compared to $0 for the three months ended March 31, 2024, which was an increase of approximately $1.8 million. The increase between the periods was due to an increase in impairment charges relating to the Addison Property.

Other Income and Expense

Interest expense. Interest expense was $7.3 million for the three months ended March 31, 2025, compared to $4.5 million for the three months ended March 31, 2024, which was an increase of approximately $2.8 million. The increase between the periods was primarily due to the NHT consolidation. 

Equity in income (losses) of unconsolidated ventures. Equity in losses of unconsolidated ventures was $(0.4) million for the three months ended March 31, 2025, compared to $(1.2) million for the three months ended March 31, 2024,