NEXPOINT DIVERSIFIED REAL ESTATE TRUST
For the period ended Sep 30, 2024. Filed Nov 8, 2024.
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Sep 30, 2024 · Filed Nov 8, 2024
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Item 1A.
- Investments in Real Estate Subsidiaries
The Company conducts its operations through the OP and NHT Operating Partnership, LLC ("NHT OP"), which collectively own 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 September 30, 2024, the Company, through the OP, owned eleven properties through SPEs, including four in the NexPoint Diversified Real Estate Trust segment, andseven in the NexPoint Hospitality Trust segment. The following table represents the Company’s ownership in each property by virtue of its consolidation of the SPEs that directly own the title to each property as of September 30, 2024 and December 31, 2023:
| Effective Ownership Percentage at | ||||||
|---|---|---|---|---|---|---|
| Property Name · Location · Year Acquired · September 30, 2024 · December 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% | |
| Dallas Hilton Garden Inn | (2) | Dallas, Texas | 2014 | (3) | 54% | N/A |
| Addison Homewood Suites | (2) | Addison, Texas | 2017 | (3) | 54% | N/A |
| Plano Homewood Suites | (2) (4) | Plano, Texas | 2017 | (3) | 54% | N/A |
| Las Colinas Homewood Suites | (2) | Las Colinas, Texas | 2017 | (3) | 54% | N/A |
| St. Petersburg Marriott | (2) | St. Petersburg, Florida | 2018 | (3) | 54% | N/A |
| Hyatt Place Park City | (2) | Park City, Utah | 2022 | (3) | 54% | N/A |
| Bradenton Hampton Inn & Suites | (2) | Bradenton, Florida | 2022 | (3) | 54% | N/A |
(1)NexPoint Dominion Land, LLC owns 100% of 21.5 acres of undeveloped land in Plano, Texas.
(2) NHT owns 100% of the properties, and NXDT owns approximately 54% of NHT.
(3) Reflects the date NHT or its predecessor acquired the property.
(4) Property classified as held for sale as of September 30, 2024.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.