Company: NXDT
Filing Date: 2025-01-21
Form Type: 424B3
Source: 0001437749-25-001494
Chunk: 2313

Company: NEXPOINT DIVERSIFIED REAL ESTATE TRUST
Filing Date: 2025-01-21
Form: 424B3
Chunk 2313
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----|:------------------------------|-----:|:----|:---------------------|-----:|:------|
| 5916 W Loop 289   |     |                 |    30,140 |     | Retail               |    | 7/23/2013 |     | $                             |    — |     |                      |    — | % (4) |
| Cityplace Tower   |     |                 | 1,365,711 |     | Office & Hospitality | -3 | 8/15/2018 |     | $                             | 2.15 |     |                      | 51.2 | %     |
|                   |     |                 | 1,478,644 |     |                      |    |           |     |                               |      |     |                      |      |       |

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I-1849</div>

| (1) | Average effective monthly occupied rent per square foot is equal to the average of the contractual rent for commenced leases as of March 31, 2024, minus any tenant concessions over the term of the lease, divided by the occupied square footage of commenced leases as of March 31, 2024. |

| (2) | Percent occupied is calculated as the rentable square footage occupied as of March 31, 2024, divided by the total rentable square footage, expressed as a percentage. |

| (3) | Cityplace is currently under development and the Company is converting part of the property into a hotel, which was still under construction as of March 31, 2024. |

| (4) | The property's tenant vacated in the fourth quarter of 2023. The Company is currently looking into leasing out the property. |

Results of Operations for the Three Months Ended March 31, 2024, 2023 and December 31, 2023

The Company previously presented comparisons of its results of operations to the immediately preceding quarter, because the Company believes that comparisons to periods in which the Company operated as a registered investment company are not useful to our shareholders. On a go forward basis, the Company will now be providing comparisons to the corresponding quarter of the prior year because management believes this presentation aligns with industry standards. In the first filing after the change in the basis of comparison, we are required to disclose a comparison of the results for the current quarter to both the immediately preceding sequential quarter and the corresponding quarter of the preceding fiscal

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