NEXPOINT DIVERSIFIED REAL ESTATE TRUST
For the period ended Mar 31, 2024. Filed May 10, 2024.
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Mar 31, 2024 · Filed May 10, 2024
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Item 1A.
- Investments in Real Estate Subsidiaries
The Company conducts its operations through the OP, which owns several real estate properties through single asset limited liability companies that are special purpose entities (“SPEs”). The Company consolidates the SPEs that it controls as well as any variable interest entities ("VIEs") where it is the primary beneficiary. All of the properties the SPEs own are consolidated in the Company’s consolidated financial statements. The assets of each entity can only be used to settle obligations of that particular entity, and the creditors of each entity have no recourse to the assets of other entities or the Company.
As of March 31, 2024 and 2023, the Company, through the OP, owned four properties through SPEs. The following table represents the Company’s ownership in each property by virtue of its 100% ownership of the SPEs that directly own the title to each property as of March 31, 2024 and 2023:
| Effective Ownership Percentage at | |||||
|---|---|---|---|---|---|
| Property Name · Location · Year Acquired · March 31, 2024 · March 31, 2023 | |||||
| White Rock Center | Dallas, Texas | 2013 | 100% | 100% | |
| 5916 W Loop 289 | Lubbock, Texas | 2013 | 100% | 100% | |
| Cityplace Tower | Dallas, Texas | 2018 | 100% | 100% | |
| NexPoint Dominion Land, LLC | (1) | Plano, Texas | 2022 | 100% | 100% |
(1)NexPoint Dominion Land, LLC owns 100% of 21.5 acres of undeveloped land in Plano, Texas.
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