NexPoint Diversified REIT participates in $962K of NSP Note at 14% PIK via side letter

NEXPOINT DIVERSIFIED REAL ESTATE TRUST

OP purchased $962,000 participation interest in Secured Promissory Note (NSP Note) with NREF as lender.
NSP Note: up to $40M, $22.7M outstanding as of Apr 3, 2026; 14% PIK interest-only, matures Jan 16, 2031.
Company owns ~53.02% of NSP common stock; Sponsor-affiliated accounts hold substantially all NSP equity.
Side letter grants OP and other purchasers right to participate pro rata in future advances under NSP Note.
Transaction involves related parties: OP, HFRO, HGLB, NRES, OSL, and NREF advised by affiliates of Adviser.

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