NXDT OP loans $6.5M to NREF subsidiary at 7.535% PIK, matures 2029

NEXPOINT DIVERSIFIED REAL ESTATE TRUST

NXDT OP issued a $6.5 million promissory note to NREF OP IV, a subsidiary of NREF.
Interest at 7.535% payable in kind (PIK), interest-only during the term.
Matures on April 19, 2029.
Transaction with an affiliate managed by an affiliate of NXDT's adviser.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

NEXPOINT DIVERSIFIED REAL ESTATE TRUST entered into NREF Note with NREF OP IV, L.P. valued at $6.5 million (effective 2024-04-19).

Action: entry
Agreement: credit facility
Counterparty: NREF OP IV, L.P.
Value: $6.5 million
Effective: 2024-04-19

Exact text from the filing

On April 19, 2024, NexPoint Diversified Real Estate Trust Operating Partnership, L.P. (“NXDT OP”), the operating partnership of NexPoint Diversified Real Estate Trust (“NXDT”), loaned $6.5 million to NREF OP IV, L.P. (“NREF OP IV”), a subsidiary of NexPoint Real Estate Finance, Inc. (“NREF”), an entity that is managed by an affiliate of the adviser of NXDT. In connection with the loan, NREF OP IV issued a promissory note in the principal amount of $6.5 million to NXDT OP (the “NREF Note”).

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Source: SEC EDGAR

accession 0001437749-24-012853

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