Company: NXDT
Filing Date: 2025-01-21
Form Type: 424B3
Source: 0001437749-25-001494
Chunk: 5

Company: NEXPOINT DIVERSIFIED REAL ESTATE TRUST
Filing Date: 2025-01-21
Form: 424B3
Chunk 5
---
 to vote at, the Meeting.

The accompanying information circular/prospectus provides you with important information about the annual and special meeting, the Transaction and each of the proposals. NHT and NXDT encourage you to carefully read this entire document, including in particular the matters discussed in the section titled“Risk Factors”beginning on page 62.

DATED at Toronto, Ontario this 21 day of January, 2025.

| BY ORDER OF THE BOARD OF TRUSTEES 
 “James Dondero”                   
 Chair of the Board of Trustees    
 NexPoint Hospitality Trust        |

Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of these securities or passed upon the adequacy or accuracy of this prospectus. Any representation to the contrary is a criminal offense.

This information circular/prospectus is dated January 21, 2025, and is first being mailed to the Unitholders on or about January 28, 2025.

<div align='center'>-3-</div>

| ADDITIONAL INFORMATION |

This information circular/prospectus incorporates by reference important business and financial information about NHT and NXDT from other documents that are not included in or delivered with this information circular/prospectus. This information is available to you without charge upon your request. You can obtain the documents incorporated by reference into this information circular/prospectus by requesting them in writing or by telephone from the appropriate company at the following addresses and telephone numbers:

| NexPoint Hospitality Trust     
 300 Crescent Court, Suite 700  
 Dallas, Texas 75201            
 Attention: Corporate Secretary 
 Telephone: (214) 276-6300      | NexPoint Diversified Real Estate Trust 
 300 Crescent Court, Suite 700          
 Dallas, Texas 75201                    
 Attention: Corporate Secretary         
 Telephone: (214) 276-6300              |

Investors may also consult the websites of NHT or NXDT for more information about the companies. The website of NHT is www.nexpointhospitality.com, and the website of NXDT is nxdt.nexpoint.com. Information included on these websites is not incorporated by reference into this information circular/prospectus.

If you would like to request any documents, please do so by February 7, 2025, in order to receive them before the annual and special meeting.

<div align='center'>For more information, see“Incorporation of Certain Information by Reference; Where You Can Find More Information.”</div>

| ABOUT THIS DOCUMENT |