Company: NREF
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001786248-25-000016
Chunk: 178

Company: NexPoint Real Estate Finance, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Item 6
Chunk 178
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 yield is the annualized income earned divided by the cost basis of the investmentThe following table presents activity related to the Company’s CMBS I/O Strips, MSCR Notes and mortgage backed securities (in thousands):For the Three Months Ended June 30,For the Six Months Ended June 30,2025202420252024Net interest earned$194 $563 $(19)$1,227 Change in unrealized gain (loss) on CMBS structured pass-through certificates660 461 1,832 421 Change in unrealized gain (loss) on MSCR Notes— 2 — (13)Change in unrealized gain (loss) on mortgage backed securities— 175 — 615 Total$854 $1,201 $1,813 $2,250 

8. Real Estate Investments, net

On December 31, 2021, the Company acquired a 204-unit multifamily property in Charlotte, North Carolina (Hudson Montford). On June 4, 2025, the Company entered into a purchase agreement with NexBank Capital, Inc. ("NexBank Capital") for the sale of Hudson Montford. Subsequent to June 30, 2025, the Company completed the sale of Hudson Montford for $60.0 million. A director and officer of the Company, who controls the Manager, which externally manages the Company, also (i) is the beneficiary of a trust that indirectly owns 100% of the limited partnership interests in the parent of the Manager and directly owns 100% of the general partnership interests in the parent of the Manager and (ii) is a director of NexBank Capital, the holding company of NexBank, directly owns a minority of the common stock of NexBank, and is the beneficiary of a trust that directly owns a substantial portion of the common stock of NexBank. For more information on the sale, see Note 17.On October 10, 2023, the Company exercised its right to terminate and replace the existing manager of SPG Alexander JV LLC, which owns a 280-unit multifamily property in Atlanta, Georgia (Alexander at the District). 

22

As of June 30, 2025, the components of the Company's investments in multifamily properties were as follows (in thousands):Real Estate Investments, NetLandBuildings andImprovementsIntangible LeaseAssetsConstruction in ProgressFurniture,Fixtures andEquipmentTotalsAlexander at the District$7