Company: NXDT
Filing Date: 2025-01-21
Form Type: 424B3
Source: 0001437749-25-001494
Chunk: 1257

Company: NEXPOINT DIVERSIFIED REAL ESTATE TRUST
Filing Date: 2025-01-21
Form: 424B3
Chunk 1257
---
 Stockholders                                                                  |     | 90 |
| Section 15.14Limitation to Preserve REIT Status                                                         |     | 90 |

List of Exhibits:

Exhibit A - Form of Member Registry

Exhibit B - Capital Account Maintenance

Exhibit C - Special Allocation Rules

Exhibit D - Notice of Redemption

Exhibit E - Form of DRO Registry

Exhibit F - Notice of Election by Member to Convert LTIP Units into Class A Units

Exhibit G - Notice of Election by Company to Force Conversion of LTIP Units into Class A Units

<div align='center'>iii</div>

AmericasActive:17820717.17

<div align='center'>I-955</div>

List of Schedules

Schedule 1.1 - SAFStor Assets

<div align='center'>iv</div>

AmericasActive:17820717.17

<div align='center'>I-956

SECOND AMENDED AND RESTATED LIMITED LIABILITY COMPANY AGREEMENT
OF
NEXPOINT STORAGE PARTNERS OPERATING COMPANY, LLC</div>

THIS SECOND AMENDED AND RESTATED LIMITED LIABILITY COMPANY AGREEMENT of NexPoint Storage Partners Operating Company, LLC (the “Company”), dated as of December 8, 2022 (the “Agreement”), is entered into by and among NexPoint Storage Partners, Inc., a Maryland corporation, as the “Managing Member” of the Company, together with any other Persons who become Members of the Company as provided herein.

WHEREAS, on March 5, 2015, the Managing Member formed the Company, as a limited partnership pursuant to Delaware law by the filing of the Certificate of Limited Partnership with the Delaware Secretary of State;

WHEREAS on December 30, 2015, the Company converted to a limited liability company pursuant to section 18-214 of the Delaware Limited Liability Company Act, as amended from time to time, and any successor to such statute (the “Act”), and section 17-219 of the Delaware Revised Uniform Limited Partnership Act, as amended, by the simultaneous filing of the Certificate of Formation and the Certificate of Conversion;

WHEREAS, the Company was previously governed by that certain Amended and Restated Limited Liability Company Agreement of the Company (as amended through the Effective Date, the “Prior Agreement”) dated as of November 6, 2020, which was ratified, confirmed and approved by the Managing Member and the other Members of the Company; and

WHEREAS, the Managing Member and the other Members now wish