NexPoint Diversified Real Estate Trust
nxdt.nexpoint.comWhat Do They Do?
Invests in commercial real estate properties, loans and equity, and operates and renovates hotels serving property tenants and hotel guests.
10-K for FY2025, filed Mar 31, 2026NexPoint Diversified Real Estate Trust (the “Company”, “we”, “us” or “our”) is an externally advised, publicly traded REIT focused on the…View ↗
The Company has two reportable segments, Diversified and Hospitality. Diversified represents the Company's primary reportable segment and…View ↗
The Company focuses on opportunistic investments in real estate properties with a value-add component and real estate credit with an…View ↗
We invest primarily in commercial real estate, including operating properties and common equity but also including, but not limited to…View ↗
Operating Properties: We make investments in operating properties with a value-add component, including but not limited to retail…View ↗
How Do They Make Money?
Property tenants generate rental income, and real estate investments generate interest and dividends; hotel room revenue is earned over guests’ stays, while food and beverage revenue is earned when goods or services are provided.
10-K for FY2025, filed Mar 31, 2026Rental income. Our rental income is primarily attributable to the rental revenue from our investment in Cityplace, a 42-story, 1.36…View ↗
Interest income. Interest income includes interest earned from our debt investments.View ↗
Dividend income. Dividend income includes dividends from our equity investments.View ↗
Rooms revenue is recognized over the length of a customer’s hotel stay.View ↗
Food and beverage (“F&B”) revenue generally consists of goods and ancillary service charges the customer separately chooses to purchase and…View ↗
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10-K for FY2025, filed Mar 31, 2026
FY2025 revenue by reportable segment ↗
$86M
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10-K for FY2025, filed Mar 31, 2026
$86M ↗
| Segment | Share | Revenue |
|---|---|---|
|
Diversified
|
64% |
Diversified, FY2025
$55.3M Sources
|
|
Hospitality
|
36% |
Hospitality, FY2025
$30.6M Sources
|
Who Are Their Customers?
Property tenants pay rent; hotel guests pay for rooms and food and beverages.
10-K for FY2025, filed Mar 31, 2026Rental income. Our rental income is primarily attributable to the rental revenue from our investment in Cityplace, a 42-story, 1.36…View ↗
Food and beverage revenue. Food and beverage ("F&B") revenue includes revenue generated from the sale of food and/or beverage offerings.…View ↗
Room revenue. Room revenue includes revenue from renting out rooms to customers. All room revenue is derived from the Hospitality segment.View ↗
Do Revenues Turn Into Profits?
No. It lost $130.2M in FY2025.
10-K for FY2025, filed Mar 31, 2026
How Are They Changing?
Shrinking. Revenue fell 10% in 4 years, from $95.1M in FY2021 to $86M in FY2025, about 3% a year.
Who Do They Compete With?
Competes with Airbnb
10-K for FY2025, filed Mar 31, 2026With respect to the Hospitality segment’s operating properties, we face competition on the basis of location, room rates, quality, service…View ↗
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