Company: NXDT
Filing Date: 2025-01-21
Form Type: 424B3
Source: 0001437749-25-001494
Chunk: 301

Company: NEXPOINT DIVERSIFIED REAL ESTATE TRUST
Filing Date: 2025-01-21
Form: 424B3
Chunk 301
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urchases of our common shares or Series A Preferred Shares pursuant to the Share Repurchase Program.

Our Portfolio

As of December 31, 2023, the Company’s Portfolio includes real estate investments comprised of four operating properties, three of which are rented from the Company for retail, hospitality or office use and one which is undeveloped, two convertible note and two promissory note investments in businesses focused on SFR and hospitality real estate, and 13 equity investments in businesses primarily focused on investing in SFR, self-storage, hospitality, life science or undeveloped real estate, as well as investing in commercial mortgage loans or other structured investments with underlying properties types including single-family, multifamily, life science and self-storage. As of December 31, 2023, the Company’s Portfolio also includes other investments comprised of its ownership of common equity, loans, CLOs, rights and warrants, U.S. life settlement contracts, convertible notes and bonds from a number of diverse issuers and investment vehicles, including litigation claims and midband spectrum frequency licenses.

The Company’s Portfolio, based on net equity, is comprised of 81.3% real estate investments and 18.7% other investments. See below for a table of our investments as of December 31, 2023 (dollars in thousands).

|                             |     | Investment |     | Real Estate |     |          |     |                |     |                |     |                       |
| Investment                  |     | Date       |     |       Value |     |     Debt |     | Net Equity (1) |     | Location       |     | Property Type         |
| Operating Properties        |     |            |     |             |     |          |     |                |     |                |     |                       |
| Cityplace Tower             |     | 8/15/2018  |     |    $233,665 |     | $142,305 |     |       $107,690 |     | Dallas, Texas  |     | Office & Hospitality* |
| NexPoint Dominion Land, LLC |     | 8/9/2022   |     |      26,500 |     |   13,250 |     |         12,967 |     | Plano, Texas   |     | Land                  |
| White Rock Center           |     | 6/13/2013  |     |      13,485 |     |        — |     |         12,893 |