# EDGAR Filing Document

**Accession Number:** 0001356115
**File Stem:** 0000000000-25-009444
**Filing Date:** 2025-9
**Character Count:** 4019
**Document Hash:** 8a88c2c17b596a4dfb0181a45b312d5e
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000000000-25-009444.hdr.sgml**: 20260113

**ACCESSION NUMBER**: 0000000000-25-009444

**CONFORMED SUBMISSION TYPE**: UPLOAD

**PUBLIC DOCUMENT COUNT**: 2

**FILED AS OF DATE**: 20250902

**FILED FOR**: 

**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:** UPLOAD
- **SEC FILE NUMBER:** 333-289799

**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
**PUBLIC REFERENCE ACCESSION NUMBER**: 0001437749-25-027604

## Text-Extract

```

                                                              September 2, 2025

Paul Richards
Chief Financial Officer
NexPoint Diversified Real Estate Trust
300 Crescent Court, Suite 700
Dallas, TX 75201

       Re: NexPoint Diversified Real Estate Trust
           Registration Statement on Form S-3
           Filed August 22, 2025
           File No. 333-289799
Dear Paul Richards:

       We have conducted a limited review of your registration statement and
have the
following comment.

        Please respond to this letter by amending your registration statement
and providing
the requested information. If you do not believe the comment applies to your
facts and
circumstances or do not believe an amendment is appropriate, please tell us why
in your
response.

       After reviewing any amendment to your registration statement and the
information
you provide in response to this letter, we may have additional comments.

Registration Statement on Form S-3 filed August 22, 2025
General

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.
 September 2, 2025
Page 2

        We remind you that the company and its management are responsible for
the accuracy
and adequacy of their disclosures, notwithstanding any review, comments, action
or absence
of action by the staff.

       Refer to Rules 460 and 461 regarding requests for acceleration. Please
allow adequate
time for us to review any amendment prior to the requested effective date of
the registration
statement.

       Please contact Pearlyne Paulemon at 202-551-8714 or Pam Howell at
202-551-3357
with any questions.

                                                           Sincerely,

                                                           Division of
Corporation Finance
                                                           Office of Real
Estate & Construction
cc:   Charlie Haag

```

### Attached PDF Documents

**Attachment 1:** `filename1`

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