Company: NXDT
Filing Date: 2025-01-21
Form Type: 424B3
Source: 0001437749-25-001494
Chunk: 437

Company: NEXPOINT DIVERSIFIED REAL ESTATE TRUST
Filing Date: 2025-01-21
Form: 424B3
Chunk 437
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 affiliates                                                                                        |     |   |                 — |   |     |   |               112 |   |
| Total Liabilities                                                                                        |     | $ |           213,262 |   |     | $ |           205,070 |   |
| Shareholders' Equity:                                                                                    |     |   |                   |   |     |   |                   |   |
| Preferred shares, $0.001 par value: 4,800,000 shares authorized; 3,359,593 shares issued and outstanding |     |   |                 3 |   |     |   |                 3 |   |

<div align='center'>81

I-86</div>

| Common shares, $0.001 par value: unlimited shares authorized; 38,389,600 and 37,171,807 shares issued and outstanding, respectively |     |   |        38 |   |     |   |        37 |
| Additional paid-in capital                                                                                                          |     |   | 1,011,613 |   |     |   |   999,845 |
| Accumulated earnings (loss)                                                                                                         |     |   |  (126,580 | ) |     |   |    17,947 |
| Total Shareholders' Equity                                                                                                          |     |   |   885,074 |   |     |   | 1,017,832 |
| TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY                                                                                          |     | $ | 1,098,336 |   |     | $ | 1,222,902 |

<div align='center'>See Notes to Consolidated Financial Statements

82

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NEXPOINT DIVERSIFIED REAL ESTATE TRUST AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF OPERATIONS

AND COMPREHENSIVE INCOME (LOSS)

(in thousands, except per share amounts)</div>

|                                                                                                                           |     | 2023 | For the Year Ended December 31, |   |     | 2022 | For the Six Months Ended December 31, |   |
|:--------------------------------------------------------------------------------------------------------------------------|:----|:-----|--------------------------------:|:--|:----|:-----|--------------------------------------:|:--|
| Revenues                                                                                                                  |     |      |                                 |   |     |      |                                       |   |
| Rental income                                                                                                             |     | $    |                          20,309 |   |     | $    |