NEXPOINT DIVERSIFIED REAL ESTATE TRUST
For the period ended Sep 30, 2025. Filed Nov 13, 2025.
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Sep 30, 2025 · Filed Nov 13, 2025
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Item 6. Exhibits
- Variable Interest Entities
As of September 30, 2025, and December 31, 2024, the Company does not consolidate the investments below as it does not have a controlling financial interest in these investments:
| Entities · Instrument · Asset Type · Percentage Ownership as of September 30, 2025 · Percentage Ownership as of December 31, 2024 · Relationship as of September 30, 2025 · Relationship as of December 31, 2024 | |||||||
|---|---|---|---|---|---|---|---|
| Unconsolidated Entities: | |||||||
| NexPoint Storage Partners, Inc. | Common stock | Self-storage | 52.7% | 52.8% | VIE | VIE | |
| NexPoint Storage Partners Operating Company, LLC | LLC interest | Self-storage | 33.8% | 29.5% | VIE | VIE | |
| Perilune Aero Equity Holdings One, LLC | LLC interest | Aircraft | 16.4% | 16.4% | VIE | VIE | |
| Sandstone Pasadena Apartments, LLC | LLC Interest | Multifamily | 50.0% | 50.0% | VIE | VOE | |
| Life Sciences II DST | DST investment | Life science | 25.8% | 25.8% | VIE | VIE | |
| Semiconductor DST | DST investment | Industrial | 19.2% | 16.8% | VIE | VIE | |
| Capital Acquisitions Partners, LLC | LLC interest | Multifamily | 20.9% | 20.9% | VIE | VIE | |
| IQHQ Holdings, LP | LP interest | Life science | 1.1% | 1.2% | VIE | VIE | |
| NexPoint Real Estate Finance Operating Partnership, L.P. | LP interest | Mortgage | 15.6% | 15.6% | VIE | VIE | |
| VineBrook Homes Operating Partnership, L.P. | LP interest | Single-family rental | 11.7% | 11.4% | VIE | VIE | |
| NexPoint SFR Operating Partnership, L.P. | LP interest | Single-family rental | 27.7% | 30.8% | VIE | VIE | |
| NexAnnuity Holdings, Inc. | Preferred Shares | Annuities | 100.0% | (1) | 100.0% | VIE | VIE |
| AMS C-Store JV, LLC | Preferred Shares | Retail | 100.0% | (2) | N/A | VIE | N/A |
(1) The Company owns 100% of the preferred stock of NexAnnuity Holdings, Inc. ("NHI"), but it doesnot own any of the outstanding common stock of NHI.
(2) The Company owns 100% of the preferred units of AMS C-Store JV, LLC, but it doesnot own any of the outstanding common units of AMS C-Store JV, LLC.
The maximum exposure to loss of value for the VIE investments includes both the carrying value of each investment, as presented in the tables in Note 8 and 10, and the Company’s exposure through additional arrangements. The Company has provided guarantees on certain debt obligations of some of the VIEs, see Note 14 for further details.
Consolidated VIEs
The Company did not have any consolidated VIEs as of September 30, 2025 and December 31, 2024.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.