# EDGAR Filing Document

**Accession Number:** 0001356115
**File Stem:** 0001437749-25-028390
**Filing Date:** 2025-9
**Character Count:** 4172
**Document Hash:** 134ba02d1c59b1ba3ff635df5c48564a
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001437749-25-028390.hdr.sgml**: 20260113

**ACCESSION NUMBER**: 0001437749-25-028390

**CONFORMED SUBMISSION TYPE**: CORRESP

**PUBLIC DOCUMENT COUNT**: 1

**FILED AS OF DATE**: 20250904

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** NEXPOINT DIVERSIFIED REAL ESTATE TRUST
- **CENTRAL INDEX KEY:** 0001356115
- **STANDARD INDUSTRIAL CLASSIFICATION:** REAL ESTATE INVESTMENT TRUSTS [6798]
- **ORGANIZATION NAME:** 05 Real Estate & Construction
- **EIN:** 800139099
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** CORRESP

**BUSINESS ADDRESS:**
- **STREET 1:** 300 CRESCENT COURT
- **STREET 2:** SUITE 700
- **CITY:** DALLAS
- **STATE:** TX
- **ZIP:** 75201
- **BUSINESS PHONE:** 214-276-6300

**MAIL ADDRESS:**
- **STREET 1:** 300 CRESCENT COURT
- **STREET 2:** SUITE 700
- **CITY:** DALLAS
- **STATE:** TX
- **ZIP:** 75201

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** NexPoint Strategic Opportunities Fund
- **DATE OF NAME CHANGE:** 20180319

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** NexPoint Credit Strategies Fund
- **DATE OF NAME CHANGE:** 20120702

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Pyxis Credit Strategies Fund
- **DATE OF NAME CHANGE:** 20120109

**NEXPOINT DIVERSIFIED REAL ESTATE TRUST**

**300 Crescent Court, Suite 700**

**Dallas, Texas 75201**

September 4, 2025

**<u>BY EDGAR</u>**

Pearlyne Paulemon

Office of Real Estate & Construction

Division of Corporation Finance

U.S. Securities and Exchange Commission

100 F Street, NE

Washington, D.C. 20549

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| | |
|:---|:---|
| **Re:** | **NexPoint Diversified Real Estate Trust** <br> **Registration Statement on Form S-3** <br> **Filed August 22, 2025** <br> **File No. 333-289799** |

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Ladies and Gentlemen:

This letter is in response to the letter dated September 2, 2025 from the staff of the Division of Corporation Finance (the "*Staff*") of the Securities and Exchange Commission addressed to NexPoint Diversified Real Estate Trust (the "*Company*"). For ease of reference, the text of the Staff's comment is included below in bold-faced type, followed by the Company's response.

**<u>Registration Statement on Form S-3 filed August 22, 2025</u>**

**<u>General</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.** **With reference to the shares held by NexPoint Real Estate Advisors X, L.P., we note that the selling shareholder is identified as a wholly owned subsidiary of NexPoint. Given this relationship, you are not permitted to rely on Securities Act Rule 415(a)(1)(i) to register the shares because the rule excludes securities offered by** "**a person of which the registrant is a subsidiary.** "**Accordingly, please amend your registration statement to disclose that this is a primary offering and identify the selling stockholder as an underwriter. For additional guidance, refer to Securities Act Rules Compliance and Disclosure Interpretations, Question 212.15.** 

**Response**: The Company acknowledges the Staff's comment and respectfully advises the Staff that NexPoint Real Estate Advisors X, L.P. (the "*Selling Stockholder*") is not a subsidiary of the Company, nor is the Company a subsidiary of the Selling Stockholder. The Registration Statement on Form S-3 (the "*Registration Statement*") includes that "NexPoint Real Estate Advisors X, L.P. is a wholly owned subsidiary of NexPoint." The term "NexPoint" is defined in the Registration Statement to mean NexPoint Advisors, L.P. NexPoint Advisors, L.P. provides external management and advisory services, among other services, to a number of clients through its various subsidiaries, one of which is the Selling Stockholder, the Company's external advisor.

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If you have any questions, please feel free to contact me at 214-276-6300 or our counsel, Justin Reinus of Winston & Strawn LLP, at 214-453-6566.

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| |
|:---|
| Very truly yours, |
| /s/ Paul Richards |
| Paul Richards<br> Chief Financial Officer, Executive<br> VP-Finance, Treasurer and Assistant Secretar |

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cc: Justin S. Reinus, Partner, Winston & Strawn LLP Charles T. Haag, Partner, Winston & Strawn LLP