AG真人官方

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[8-K] NexPoint AG真人官方 Estate Finance, Inc. Reports Material Event

Filing Impact
(Moderate)
Filing Sentiment
(Neutral)
Form Type
8-K
Rhea-AI Filing Summary

Key event: On 22 Jul 2025 NexPoint AG真人官方 Estate Finance (NYSE:NREF) closed the $60 million sale of the 204-unit Hudson Montford multifamily property in Charlotte, NC. After $32.7 million of transaction costs, net cash proceeds were $27.3 million, producing a one-time $3.3 million gain.

Balance-sheet impact (pro forma 31 Mar 2025):

  • Cash & equivalents increase to $46.6 million (+$27.3 million).
  • AG真人官方-estate investments decline to $65.0 million (-$55.9 million).
  • Mortgage debt falls to $63.5 million (-$31.9 million); total liabilities contract by $32.2 million to $4.75 billion.
  • Stockholders鈥� equity rises $3.3 million to $347.0 million.

Earnings impact: Excluding Montford is slightly dilutive to Q1-25 basic EPS (-$0.02 to $0.92) but accretive to FY-24 basic EPS (+$0.10 to $1.12) as the asset carried higher expenses than revenues. Common and preferred dividends are unchanged.

Strategic takeaway: The disposal recycles capital from a lower-margin asset, improves liquidity and modestly delevers the balance sheet with limited effect on near-term profitability.

Evento chiave: Il 22 luglio 2025 NexPoint AG真人官方 Estate Finance (NYSE:NREF) ha concluso la vendita da 60 milioni di dollari della propriet脿 multifamiliare Hudson Montford da 204 unit脿 a Charlotte, NC. Dopo costi di transazione per 32,7 milioni di dollari, i proventi netti in contanti sono stati di 27,3 milioni di dollari, generando un guadagno una tantum di 3,3 milioni di dollari.

Impatto sul bilancio (pro forma al 31 marzo 2025):

  • La liquidit脿 e equivalenti aumentano a 46,6 milioni di dollari (+27,3 milioni).
  • Gli investimenti immobiliari diminuiscono a 65,0 milioni di dollari (-55,9 milioni).
  • Il debito ipotecario scende a 63,5 milioni di dollari (-31,9 milioni); le passivit脿 totali si contraggono di 32,2 milioni a 4,75 miliardi.
  • Il patrimonio netto degli azionisti cresce di 3,3 milioni a 347,0 milioni.

Impatto sugli utili: Escludere Montford 猫 leggermente diluitivo per l鈥檜tile base per azione del primo trimestre 2025 (-0,02 a 0,92) ma accrescitivo per l鈥檜tile base per azione dell鈥檃nno fiscale 2024 (+0,10 a 1,12), poich茅 l鈥檌mmobile generava spese superiori ai ricavi. I dividendi comuni e preferenziali rimangono invariati.

Considerazioni strategiche: La dismissione ricicla capitale da un asset a margine inferiore, migliora la liquidit脿 e riduce modestamente il livello di indebitamento del bilancio con un impatto limitato sulla redditivit脿 a breve termine.

Evento clave: El 22 de julio de 2025 NexPoint AG真人官方 Estate Finance (NYSE:NREF) cerr贸 la venta de 60 millones de d贸lares de la propiedad multifamiliar Hudson Montford de 204 unidades en Charlotte, NC. Despu茅s de costos de transacci贸n por 32,7 millones de d贸lares, los ingresos netos en efectivo fueron de 27,3 millones, generando una ganancia 煤nica de 3,3 millones de d贸lares.

Impacto en el balance (pro forma al 31 de marzo de 2025):

  • El efectivo y equivalentes aumentan a 46,6 millones (+27,3 millones).
  • Las inversiones inmobiliarias disminuyen a 65,0 millones (-55,9 millones).
  • La deuda hipotecaria baja a 63,5 millones (-31,9 millones); los pasivos totales se reducen en 32,2 millones hasta 4,75 mil millones.
  • El patrimonio neto de los accionistas sube 3,3 millones a 347,0 millones.

Impacto en las ganancias: Excluir Montford es ligeramente dilutivo para el BPA b谩sico del primer trimestre de 2025 (-0,02 a 0,92) pero accretivo para el BPA b谩sico del a帽o fiscal 2024 (+0,10 a 1,12), ya que el activo ten铆a gastos mayores que ingresos. Los dividendos comunes y preferentes permanecen sin cambios.

Conclusi贸n estrat茅gica: La venta recicla capital de un activo con menor margen, mejora la liquidez y reduce modestamente el apalancamiento del balance con un efecto limitado en la rentabilidad a corto plazo.

欤检殧 靷贝: 2025雲� 7鞗� 22鞚� NexPoint AG真人官方 Estate Finance(NYSE:NREF)電� 雲胳姢旌愲·霛检澊雮� 靸熆鞐� 鞙勳箻頃� 204臧甑� 攴滊鞚� 項堧摐鞀� 氇姼韽摐 雼り皜甑� 欤柬儩鞚� 6,000毵� 雼煬鞐� 毵り皝 鞕勲頄堨姷雼堧嫟. 3,270毵� 雼煬鞚� 瓯半灅 牍勳毄鞚� 鞝滌櫢頃� 靾滍槃旮� 靾橃澋鞚 2,730毵� 雼煬搿�, 鞚柬殞靹� 鞚挫澋 330毵� 雼煬毳� 旮半頄堨姷雼堧嫟.

雽彀寑臁绊憸 鞓來枼 (2025雲� 3鞗� 31鞚� 旮办 頂勲韽):

  • 順勱笀 氚� 順勱笀靹� 鞛愳偘鞚� 4,660毵� 雼煬搿� 2,730毵� 雼煬 歃濌皜頄堨姷雼堧嫟.
  • 攵霃欖偘 韴瀽 鞛愳偘鞚 6,500毵� 雼煬搿� 5,590毵� 雼煬 臧愳唽頄堨姷雼堧嫟.
  • 氇赴歆 攵毂勲姅 6,350毵� 雼煬搿� 3,190毵� 雼煬 臧愳唽頄堨溂氅�, 齑� 攵毂勲姅 32.2氚彪 雼煬 臧愳唽頃橃棳 47鞏� 5觳滊 雼煬臧 霅橃棃鞀惦媹雼�.
  • 欤检< 鞛愲掣鞚 330毵� 雼煬 歃濌皜頃橃棳 3鞏� 4,700毵� 雼煬臧 霅橃棃鞀惦媹雼�.

靾橃澋 鞓來枼: 氇姼韽摐毳� 鞝滌櫢頃橂┐ 2025雲� 1攵勱赴 旮半掣 欤茧嫻靾滌澊鞚奠澊 鞎疥皠 頋劃霅橃柎 0.02雼煬 臧愳唽頃� 0.92雼煬臧 霅橃毵�, 2024 須岅硠鞐半弰 旮半掣 欤茧嫻靾滌澊鞚奠棎電� 0.10雼煬 歃濌皜頃� 1.12雼煬搿� 旮嶌爼鞝� 鞓來枼鞚� 氙胳供雼堧嫟. 頃措嫻 鞛愳偘鞚 靾橃澋氤措嫟 牍勳毄鞚� 雿� 旎戈赴 霑岆鞛呺媹雼�. 氤错喌欤� 氚� 鞖办劆欤� 氚半嫻旮堨潃 氤霃欖澊 鞐嗢姷雼堧嫟.

鞝勲灥鞝� 鞁滌偓鞝�: 鞚措矆 毵り皝鞚 靾橃澋毳犾澊 雮潃 鞛愳偘鞐愳劀 鞛愲掣鞚� 鞛櫆鞖╉晿瓿� 鞙犽彊靹膘潉 臧滌劆頃橂┌, 雼赴 靾橃澋靹膘棎 韥� 鞓來枼鞚� 欤检 鞎婌溂氅挫劀 雽彀寑臁绊憸鞚� 攵毂勲ゼ 雼れ唽 欷勳瀰雼堧嫟.

脡v茅nement cl茅 : Le 22 juillet 2025, NexPoint AG真人官方 Estate Finance (NYSE:NREF) a finalis茅 la vente 脿 60 millions de dollars de la propri茅t茅 multifamiliale Hudson Montford, comprenant 204 unit茅s, 脿 Charlotte, NC. Apr猫s des co没ts de transaction de 32,7 millions de dollars, le produit net en esp猫ces s鈥檈st 茅lev茅 脿 27,3 millions de dollars, g茅n茅rant un gain ponctuel de 3,3 millions de dollars.

Impact sur le bilan (pro forma au 31 mars 2025) :

  • La tr茅sorerie et 茅quivalents augmentent 脿 46,6 millions de dollars (+27,3 millions).
  • Les investissements immobiliers diminuent 脿 65,0 millions de dollars (-55,9 millions).
  • La dette hypoth茅caire baisse 脿 63,5 millions de dollars (-31,9 millions) ; le passif total se contracte de 32,2 millions pour atteindre 4,75 milliards.
  • Les capitaux propres augmentent de 3,3 millions pour atteindre 347,0 millions.

Impact sur les r茅sultats : L鈥檈xclusion de Montford dilue l茅g猫rement le BPA de base du premier trimestre 2025 (-0,02 脿 0,92) mais est accretive pour le BPA de base de l鈥檈xercice 2024 (+0,10 脿 1,12), l鈥檃ctif ayant des charges sup茅rieures 脿 ses revenus. Les dividendes ordinaires et privil茅gi茅s restent inchang茅s.

Enseignement strat茅gique : Cette cession recycle du capital issu d鈥檜n actif 脿 marge plus faible, am茅liore la liquidit茅 et r茅duit modestement l鈥檈ndettement du bilan avec un impact limit茅 sur la rentabilit茅 脿 court terme.

厂肠丑濒眉蝉蝉别濒别谤别颈驳苍颈蝉: Am 22. Juli 2025 schloss NexPoint AG真人官方 Estate Finance (NYSE:NREF) den Verkauf der 204 Einheiten umfassenden Mehrfamilienimmobilie Hudson Montford in Charlotte, NC, f眉r 60 Millionen US-Dollar ab. Nach Transaktionskosten von 32,7 Millionen US-Dollar betrugen die Netto-Barerl枚se 27,3 Millionen US-Dollar, was einen einmaligen Gewinn von 3,3 Millionen US-Dollar erzielte.

Bilanzwirkung (pro forma zum 31. M盲rz 2025):

  • Bargeld und Zahlungsmittel盲quivalente steigen auf 46,6 Millionen US-Dollar (+27,3 Millionen).
  • Immobilieninvestitionen sinken auf 65,0 Millionen US-Dollar (-55,9 Millionen).
  • Hypothekenschulden fallen auf 63,5 Millionen US-Dollar (-31,9 Millionen); die Gesamtverbindlichkeiten verringern sich um 32,2 Millionen auf 4,75 Milliarden.
  • Das Eigenkapital der Aktion盲re steigt um 3,3 Millionen auf 347,0 Millionen.

Ertragswirkung: Der Ausschluss von Montford wirkt sich leicht verw盲ssernd auf das unverw盲sserte Ergebnis je Aktie des ersten Quartals 2025 aus (-0,02 auf 0,92), ist jedoch ertragssteigernd f眉r das unverw盲sserte Ergebnis je Aktie des Gesch盲ftsjahres 2024 (+0,10 auf 1,12), da die Immobilie h枚here Aufwendungen als Ertr盲ge verursachte. Die Dividenden f眉r Stamm- und Vorzugsaktien bleiben unver盲ndert.

Strategische Erkenntnis: Der Verkauf recycelt Kapital aus einer margen盲rmeren Anlage, verbessert die Liquidit盲t und reduziert moderat die Verschuldung der Bilanz mit begrenztem Einfluss auf die kurzfristige Profitabilit盲t.

Positive
  • $27.3 million net cash inflow boosts liquidity to $46.6 million.
  • Mortgage debt reduced by $31.9 million, modestly lowering leverage.
  • FY-2024 pro-forma basic EPS rises 10 % to $1.12, indicating accretion.
  • One-time $3.3 million gain increases shareholder equity.
Negative
  • Q1-2025 basic EPS falls $0.02 due to lost rental income.
  • AG真人官方-estate asset base shrinks by $55.9 million, reducing diversification.

Insights

TL;DR: Sale strengthens liquidity, trims debt and is modestly EPS-accretive for FY-24鈥攐verall credit-positive.

The $60 million Montford divestiture frees $27 million in cash and wipes nearly $32 million of mortgage debt, improving net leverage. Pro-forma equity ticks up 1 %, demonstrating value creation despite sizable closing costs. While Q1-25 EPS slips 2 cents, FY-24 EPS rises 10 cents, signalling the property was margin-dilutive. With ample CRE market headwinds, moving out of a single-asset exposure into cash enhances optionality for higher-yield deployments or further debt reduction. Transaction was arm鈥檚-length despite related-party links, mitigating governance concerns.

TL;DR: Asset sale exits a tertiary Charlotte deal at book value, redeployable capital outweighs lost NOI.

Montford鈥檚 book value was $55.9 million, implying a 7.3 % premium on sale price before fees鈥攁 respectable exit in a cooling multifamily market. The property contributed only $3.45 million annualised revenue but required heavy operating spend. Eliminating those costs lifts pro-forma margins, evidenced by the FY-24 EPS bump. Reduced mortgages ease interest-rate risk. Downside is diminished geographic diversification and near-term rental income, but overall portfolio quality and balance-sheet flexibility improve.

Evento chiave: Il 22 luglio 2025 NexPoint AG真人官方 Estate Finance (NYSE:NREF) ha concluso la vendita da 60 milioni di dollari della propriet脿 multifamiliare Hudson Montford da 204 unit脿 a Charlotte, NC. Dopo costi di transazione per 32,7 milioni di dollari, i proventi netti in contanti sono stati di 27,3 milioni di dollari, generando un guadagno una tantum di 3,3 milioni di dollari.

Impatto sul bilancio (pro forma al 31 marzo 2025):

  • La liquidit脿 e equivalenti aumentano a 46,6 milioni di dollari (+27,3 milioni).
  • Gli investimenti immobiliari diminuiscono a 65,0 milioni di dollari (-55,9 milioni).
  • Il debito ipotecario scende a 63,5 milioni di dollari (-31,9 milioni); le passivit脿 totali si contraggono di 32,2 milioni a 4,75 miliardi.
  • Il patrimonio netto degli azionisti cresce di 3,3 milioni a 347,0 milioni.

Impatto sugli utili: Escludere Montford 猫 leggermente diluitivo per l鈥檜tile base per azione del primo trimestre 2025 (-0,02 a 0,92) ma accrescitivo per l鈥檜tile base per azione dell鈥檃nno fiscale 2024 (+0,10 a 1,12), poich茅 l鈥檌mmobile generava spese superiori ai ricavi. I dividendi comuni e preferenziali rimangono invariati.

Considerazioni strategiche: La dismissione ricicla capitale da un asset a margine inferiore, migliora la liquidit脿 e riduce modestamente il livello di indebitamento del bilancio con un impatto limitato sulla redditivit脿 a breve termine.

Evento clave: El 22 de julio de 2025 NexPoint AG真人官方 Estate Finance (NYSE:NREF) cerr贸 la venta de 60 millones de d贸lares de la propiedad multifamiliar Hudson Montford de 204 unidades en Charlotte, NC. Despu茅s de costos de transacci贸n por 32,7 millones de d贸lares, los ingresos netos en efectivo fueron de 27,3 millones, generando una ganancia 煤nica de 3,3 millones de d贸lares.

Impacto en el balance (pro forma al 31 de marzo de 2025):

  • El efectivo y equivalentes aumentan a 46,6 millones (+27,3 millones).
  • Las inversiones inmobiliarias disminuyen a 65,0 millones (-55,9 millones).
  • La deuda hipotecaria baja a 63,5 millones (-31,9 millones); los pasivos totales se reducen en 32,2 millones hasta 4,75 mil millones.
  • El patrimonio neto de los accionistas sube 3,3 millones a 347,0 millones.

Impacto en las ganancias: Excluir Montford es ligeramente dilutivo para el BPA b谩sico del primer trimestre de 2025 (-0,02 a 0,92) pero accretivo para el BPA b谩sico del a帽o fiscal 2024 (+0,10 a 1,12), ya que el activo ten铆a gastos mayores que ingresos. Los dividendos comunes y preferentes permanecen sin cambios.

Conclusi贸n estrat茅gica: La venta recicla capital de un activo con menor margen, mejora la liquidez y reduce modestamente el apalancamiento del balance con un efecto limitado en la rentabilidad a corto plazo.

欤检殧 靷贝: 2025雲� 7鞗� 22鞚� NexPoint AG真人官方 Estate Finance(NYSE:NREF)電� 雲胳姢旌愲·霛检澊雮� 靸熆鞐� 鞙勳箻頃� 204臧甑� 攴滊鞚� 項堧摐鞀� 氇姼韽摐 雼り皜甑� 欤柬儩鞚� 6,000毵� 雼煬鞐� 毵り皝 鞕勲頄堨姷雼堧嫟. 3,270毵� 雼煬鞚� 瓯半灅 牍勳毄鞚� 鞝滌櫢頃� 靾滍槃旮� 靾橃澋鞚 2,730毵� 雼煬搿�, 鞚柬殞靹� 鞚挫澋 330毵� 雼煬毳� 旮半頄堨姷雼堧嫟.

雽彀寑臁绊憸 鞓來枼 (2025雲� 3鞗� 31鞚� 旮办 頂勲韽):

  • 順勱笀 氚� 順勱笀靹� 鞛愳偘鞚� 4,660毵� 雼煬搿� 2,730毵� 雼煬 歃濌皜頄堨姷雼堧嫟.
  • 攵霃欖偘 韴瀽 鞛愳偘鞚 6,500毵� 雼煬搿� 5,590毵� 雼煬 臧愳唽頄堨姷雼堧嫟.
  • 氇赴歆 攵毂勲姅 6,350毵� 雼煬搿� 3,190毵� 雼煬 臧愳唽頄堨溂氅�, 齑� 攵毂勲姅 32.2氚彪 雼煬 臧愳唽頃橃棳 47鞏� 5觳滊 雼煬臧 霅橃棃鞀惦媹雼�.
  • 欤检< 鞛愲掣鞚 330毵� 雼煬 歃濌皜頃橃棳 3鞏� 4,700毵� 雼煬臧 霅橃棃鞀惦媹雼�.

靾橃澋 鞓來枼: 氇姼韽摐毳� 鞝滌櫢頃橂┐ 2025雲� 1攵勱赴 旮半掣 欤茧嫻靾滌澊鞚奠澊 鞎疥皠 頋劃霅橃柎 0.02雼煬 臧愳唽頃� 0.92雼煬臧 霅橃毵�, 2024 須岅硠鞐半弰 旮半掣 欤茧嫻靾滌澊鞚奠棎電� 0.10雼煬 歃濌皜頃� 1.12雼煬搿� 旮嶌爼鞝� 鞓來枼鞚� 氙胳供雼堧嫟. 頃措嫻 鞛愳偘鞚 靾橃澋氤措嫟 牍勳毄鞚� 雿� 旎戈赴 霑岆鞛呺媹雼�. 氤错喌欤� 氚� 鞖办劆欤� 氚半嫻旮堨潃 氤霃欖澊 鞐嗢姷雼堧嫟.

鞝勲灥鞝� 鞁滌偓鞝�: 鞚措矆 毵り皝鞚 靾橃澋毳犾澊 雮潃 鞛愳偘鞐愳劀 鞛愲掣鞚� 鞛櫆鞖╉晿瓿� 鞙犽彊靹膘潉 臧滌劆頃橂┌, 雼赴 靾橃澋靹膘棎 韥� 鞓來枼鞚� 欤检 鞎婌溂氅挫劀 雽彀寑臁绊憸鞚� 攵毂勲ゼ 雼れ唽 欷勳瀰雼堧嫟.

脡v茅nement cl茅 : Le 22 juillet 2025, NexPoint AG真人官方 Estate Finance (NYSE:NREF) a finalis茅 la vente 脿 60 millions de dollars de la propri茅t茅 multifamiliale Hudson Montford, comprenant 204 unit茅s, 脿 Charlotte, NC. Apr猫s des co没ts de transaction de 32,7 millions de dollars, le produit net en esp猫ces s鈥檈st 茅lev茅 脿 27,3 millions de dollars, g茅n茅rant un gain ponctuel de 3,3 millions de dollars.

Impact sur le bilan (pro forma au 31 mars 2025) :

  • La tr茅sorerie et 茅quivalents augmentent 脿 46,6 millions de dollars (+27,3 millions).
  • Les investissements immobiliers diminuent 脿 65,0 millions de dollars (-55,9 millions).
  • La dette hypoth茅caire baisse 脿 63,5 millions de dollars (-31,9 millions) ; le passif total se contracte de 32,2 millions pour atteindre 4,75 milliards.
  • Les capitaux propres augmentent de 3,3 millions pour atteindre 347,0 millions.

Impact sur les r茅sultats : L鈥檈xclusion de Montford dilue l茅g猫rement le BPA de base du premier trimestre 2025 (-0,02 脿 0,92) mais est accretive pour le BPA de base de l鈥檈xercice 2024 (+0,10 脿 1,12), l鈥檃ctif ayant des charges sup茅rieures 脿 ses revenus. Les dividendes ordinaires et privil茅gi茅s restent inchang茅s.

Enseignement strat茅gique : Cette cession recycle du capital issu d鈥檜n actif 脿 marge plus faible, am茅liore la liquidit茅 et r茅duit modestement l鈥檈ndettement du bilan avec un impact limit茅 sur la rentabilit茅 脿 court terme.

厂肠丑濒眉蝉蝉别濒别谤别颈驳苍颈蝉: Am 22. Juli 2025 schloss NexPoint AG真人官方 Estate Finance (NYSE:NREF) den Verkauf der 204 Einheiten umfassenden Mehrfamilienimmobilie Hudson Montford in Charlotte, NC, f眉r 60 Millionen US-Dollar ab. Nach Transaktionskosten von 32,7 Millionen US-Dollar betrugen die Netto-Barerl枚se 27,3 Millionen US-Dollar, was einen einmaligen Gewinn von 3,3 Millionen US-Dollar erzielte.

Bilanzwirkung (pro forma zum 31. M盲rz 2025):

  • Bargeld und Zahlungsmittel盲quivalente steigen auf 46,6 Millionen US-Dollar (+27,3 Millionen).
  • Immobilieninvestitionen sinken auf 65,0 Millionen US-Dollar (-55,9 Millionen).
  • Hypothekenschulden fallen auf 63,5 Millionen US-Dollar (-31,9 Millionen); die Gesamtverbindlichkeiten verringern sich um 32,2 Millionen auf 4,75 Milliarden.
  • Das Eigenkapital der Aktion盲re steigt um 3,3 Millionen auf 347,0 Millionen.

Ertragswirkung: Der Ausschluss von Montford wirkt sich leicht verw盲ssernd auf das unverw盲sserte Ergebnis je Aktie des ersten Quartals 2025 aus (-0,02 auf 0,92), ist jedoch ertragssteigernd f眉r das unverw盲sserte Ergebnis je Aktie des Gesch盲ftsjahres 2024 (+0,10 auf 1,12), da die Immobilie h枚here Aufwendungen als Ertr盲ge verursachte. Die Dividenden f眉r Stamm- und Vorzugsaktien bleiben unver盲ndert.

Strategische Erkenntnis: Der Verkauf recycelt Kapital aus einer margen盲rmeren Anlage, verbessert die Liquidit盲t und reduziert moderat die Verschuldung der Bilanz mit begrenztem Einfluss auf die kurzfristige Profitabilit盲t.

false 0001786248 0001786248 2025-07-22 2025-07-22 0001786248 nref:CommonStockParValue001PerShareCustomMember 2025-07-22 2025-07-22 0001786248 nref:SeriesACumulativeRedeemablePreferredStockParValue001PerShare850CustomMember 2025-07-22 2025-07-22
 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
 
 
FORM 8-K 
 
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
 
Date of report (Date of earliest event reported): July 22, 2025
 
NEXPOINT REAL ESTATE FINANCE, INC.
(Exact Name Of Registrant As Specified In Charter)
 
     
Maryland
001-39210
84-2178264
(State or Other Jurisdiction
of Incorporation)
(Commission
File Number)
(IRS Employer
Identification No.)
 
300 Crescent Court, Suite 700
Dallas, Texas 75201
(Address of Principal Executive Offices) (Zip Code)
 
Registrant’s telephone number, including area code: (214) 276-6300
 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
 
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
 
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 
Securities registered pursuant to Section 12(b) of the Exchange Act:
 
Title of each class
 
Trading
Symbol(s)
 
Name of each exchange
on which registered
Common Stock, par value $0.01 per share
 
NREF
 
New York Stock Exchange
8.50% Series A Cumulative Redeemable Preferred Stock, par value $0.01 per share
 
NREF-PRA
 
New York Stock Exchange
 
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
 
Emerging growth company
 
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
 
 

 
Item 1.01. Entry into a Material Definitive Agreement.
 
On July 22, 2025, NexPoint AG真人官方 Estate Finance, Inc. (the “Company”) completed the sale of the Hudson Montford multifamily property, located in Charlotte, North Carolina (also known as Montford at Madison Park), comprising of approximately 204 units, for $60.0 million (the “Montford Transaction”) pursuant to a Membership Interest Purchase Agreement, dated June 4, 2025 (the “Agreement”), by and among NREF OP IV, L.P. and NexPoint Montford Investment Co, LLC, subsidiaries of the Company, and NexBank Capital, Inc. A director and officer of the Company also (i) is the beneficiary of a trust that indirectly owns 100% of the limited partnership interests in the parent of the Company’s external manager and directly owns 100% of the general partnership interests in the parent of the Company’s external manager and (ii) is a director of NexBank Capital, the holding company of NexBank, directly owns a minority of the common stock of NexBank, and is the beneficiary of a trust that directly owns a substantial portion of the common stock of NexBank. The parties negotiated the terms of the Agreement on an arm’s length basis.
 
Item 2.01. Completion of Acquisition or Disposition of Assets.
 
The information contained in Item 1.01 of this Current Report on Form 8-K regarding the Montford Transaction is incorporated by reference in this Item 2.01.
 
Item 9.01. Financial Statements and Exhibits.
 
(b)
 
Unaudited Pro Forma Consolidated Financial Statements
2
Unaudited Pro Forma Consolidated Balance Sheet as of March 31, 2025
3
Unaudited Pro Forma Consolidated Statement of Operations for the three months ended March 31, 2025
4
Unaudited Pro Forma Consolidated Statement of Operations for the year ended December 31, 2014
5
Notes to Unaudited Pro Forma Consolidated Financial Statements
6
 
1

 
 
UNAUDITED PRO FORMA CONSOLIDATED FINANCIAL STATEMENTS
 
 
The following unaudited pro forma consolidated financial statements have been prepared to provide pro forma information with respect to the disposition of the Hudson Montford multifamily property, located in Charlotte, North Carolina (“Montford”). On July 22, 2025, NexPoint AG真人官方 Estate Finance, Inc. (the “Company”) completed the sale of Montford for $60.0 million (the “Montford Transaction”) pursuant to a Membership Interest Purchase Agreement, dated June 4, 2025 (the “Agreement”), by and among NREF OP IV, L.P. and NexPoint Montford Investment Co, LLC, subsidiaries of the Company, and NexBank Capital, Inc.
 
The accompanying Unaudited Pro Forma Consolidated Balance Sheet is presented as of March 31, 2025 and the Unaudited Pro Forma Consolidated Statements of Operations of the Company are presented for the three months ended March 31, 2025 and the year ended December 31, 2024, and include certain pro forma adjustments to illustrate the estimated effect of the Company's disposition of Montford. This pro forma consolidated financial information is presented for informational purposes only and does not purport to be indicative of the Company's financial results as if the transaction reflected herein had occurred on the date or been in effect during the periods indicated. This pro forma consolidated financial information should not be viewed as indicative of the Company's financial results in the future and should be read in conjunction with the Company's Form 10-K for the year ended December 31, 2024 and Form 10-Q for the three months ended March 31, 2025.
 
2

 
 
NexPoint AG真人官方 Estate Finance, Inc.
 
Unaudited Pro Forma Consolidated Balance Sheet
 
As of March 31, 2025
 
 
   
NREF
Historical
   
Disposition of
Montford
     
NREF
Pro Forma
 
                           
ASSETS
                         
Cash and cash equivalents
  $ 19,224     $ 27,347  
A
  $ 46,571  
Restricted cash
    4,264        
B
    4,264  
AG真人官方 estate investments, net
    120,895       (55,907 )
B
    64,988  
Loans, held-for-investment, net ($24,306 and $28,036 with related parties, respectively)
    489,942               489,942  
Common stock investments, at fair value ($29,289 and $30,467 with related parties, respectively)
    55,975               55,975  
Equity method investments ($1,524 and $1,504 with related parties, respectively)
    1,556               1,556  
Mortgage loans, held-for-investment, net
    273,452               273,452  
Preferred stock investments, at fair value
    73,962               73,962  
Accrued interest and dividends
    40,316               40,316  
Mortgage loans held in variable interest entities, at fair value
    4,235,748               4,235,748  
CMBS structured pass-through certificates, at fair value
    39,852               39,852  
MSCR Notes, at fair value
                   
Mortgage backed securities, at fair value ($0 and $0 with related parties, respectively)
                   
Stock warrant investments
    42,573               42,573  
Accounts receivable and other assets
    1,000       (303 )
B
    697  
TOTAL ASSETS
  $ 5,398,759     $ (28,863 )     $ 5,369,896  
                           
LIABILITIES AND STOCKHOLDERS' EQUITY
                         
Liabilities:
                         
Secured financing agreements, net
  $ 252,690     $       $ 252,690  
Master repurchase agreements
    258,598               258,598  
Unsecured notes, net
    221,395               221,395  
Mortgages payable, net
    95,390       (31,890 )
B
    63,500  
Accounts payable and other accrued liabilities
    8,725       (75 )
B
    8,650  
Accrued interest payable
    13,036       (195 )
B
    12,841  
Bonds payable held in variable interest entities, at fair value
  $ 3,928,411     $       $ 3,928,411  
Total Liabilities
    4,778,245       (32,160 )       4,746,085  
                           
Redeemable Series B Preferred stock, $0.01 par value: 16,000,000 shares authorized; 8,470,908 and 6,678,997 shares issued and 8,470,908 and 6,677,251 shares outstanding, respectively
    188,999               188,999  
Redeemable noncontrolling interests in the OP
    87,808               87,808  
                           
Stockholders' Equity:
                         
Noncontrolling interest in CMBS variable interest entities
    3,273               3,273  
Noncontrolling interest in subsidiary
    95               95  
Series A Preferred stock, $0.01 par value: 100,000,000 shares authorized; 1,645,000 and 2,000,000 shares issued and outstanding, respectively
    16               16  
Common stock, $0.01 par value: 500,000,000 shares authorized; 17,643,526 and 17,461,129 shares issued outstanding, respectively
    176               176  
Additional paid-in capital
    387,683               387,683  
Retained earnings (accumulated deficit)
    (47,536 )     3,297  
B,C
    (44,239 )
Total Stockholders' Equity
  $ 343,707     $ 3,297       $ 347,004  
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY
  $ 5,398,759     $ (28,863 )     $ 5,369,896  
 
3

 
NexPoint AG真人官方 Estate Finance, Inc.
 
Unaudited Pro Forma Consolidated Statement of Operations
 
For the Three Months Ended March 31, 2025
 
 
   
NREF
Historical
   
Disposition of
Montford
     
NREF Pro
Forma
 
Net interest income
                         
Interest income
  $ 22,043     $       $ 22,043  
Interest expense
    (10,534 )             (10,534 )
Total net interest income (loss)
  $ 11,509     $       $ 11,509  
Other income (loss)
                         
Change in net assets related to consolidated CMBS variable interest entities
    7,084               7,084  
Change in unrealized gain (loss) on CMBS structured pass-through certificates
    1,172               1,172  
Change in unrealized gain (loss) on common stock investments
    (1,414 )             (1,414 )
Change in unrealized gain (loss) on preferred stock investments
    15,173               15,173  
Change in unrealized gain (loss) on MSCR Notes
                   
Change in unrealized gain (loss) on mortgage backed securities
                   
Reversal of (provision for) credit losses
    (3,625 )             (3,625 )
Dividend income
    1,999               1,999  
Other income (loss)
    (70 )             (70 )
AG真人官方ized gain
                   
Loss on extinguishment of debt
    (45 )             (45 )
Gain on deconsolidation of variable interest entity
                   
Equity in income (losses) of equity method investments
    53               53  
Revenues from consolidated real estate owned
    2,409       (1,091 )
AA
    3,500  
Total other income (loss)
  $ 22,736     $ (1,091 )     $ 23,827  
Operating expenses
                         
General and administrative expenses
    2,512               2,512  
Loan servicing fees
    321               321  
Management fees
    1,411               1,411  
Expenses from consolidated real estate owned
    4,039       (1,448 )
AA
    5,487  
Total operating expenses
    8,283       (1,448 )       9,731  
Net income (loss)
  $ 25,962     $ 357       $ 25,605  
Net (income) loss attributable to Series A preferred stockholders
    (874 )             (874 )
Net (income) loss attributable to Series B preferred stockholders
    (4,407 )             (4,407 )
Net (income) loss attributable to redeemable noncontrolling interests
    (4,163 )             (4,163 )
Net income (loss) attributable to common stockholders
  $ 16,518     $ 357       $ 16,161  
                           
Weighted-average common shares outstanding - basic
    17,516               17,516  
Weighted-average common shares outstanding - diluted
    36,049               36,049  
                           
Earnings (loss) per share outstanding - basic
  $ 0.94     $       $ 0.92  
Earnings (loss) per share outstanding - diluted
  $ 0.70     $       $ 0.69  
                           
Dividends declared per common share
  $ 0.5000     $       $ 0.5000  
 
4

 
 
NexPoint AG真人官方 Estate Finance, Inc.
 
Unaudited Pro Forma Consolidated Statement of Operations
 
For the Year Ended December 31, 2024
 
 
   
NREF Historical
   
Disposition of Montford
     
NREF Pro Forma
 
Net interest income
                         
Interest income
  $ 72,507     $       $ 72,507  
Interest expense
    (44,371 )             (44,371 )
Total net interest income
  $ 28,136     $       $ 28,136  
Other income (loss)
                         
Change in net assets related to consolidated CMBS variable interest entities
    36,669               36,669  
Change in unrealized gain (loss) on CMBS structured pass-through certificates
    1,925               1,925  
Change in unrealized gain (loss) on common stock investments
    (4,140 )             (4,140 )
Change in unrealized gain (loss) on preferred stock investments
    667               667  
Change in unrealized gain (loss) on MSCR Notes
    (13 )             (13 )
Change in unrealized gain (loss) on mortgage backed securities
    763               763  
Reversal of (provision for) credit losses
    723               723  
Dividend income
    2,009               2,009  
Other income
    748               748  
AG真人官方ized gain
    691               691  
Loss on extinguishment of debt
    (488 )             (488 )
Gain on deconsolidation of variable interest entity
                   
Equity in income (losses) of equity method investments
    (3,951 )             (3,951 )
Revenues from consolidated real estate owned
    8,864       (4,541 )
AA
    4,323  
Total other income (loss)
  $ 44,467     $ (4,541 )     $ 39,926  
Operating expenses
                         
General and administrative expenses
    12,812               12,812  
Loan servicing fees
    1,585               1,585  
Management fees
    3,867               3,867  
Expenses from consolidated real estate owned
    18,377       (6,401 )
AA
    11,976  
Total operating expenses
    36,641       (6,401 )       30,240  
Net income
  $ 35,962     $ 1,860       $ 37,822  
Net (income) loss attributable to Series A preferred stockholders
    (3,496 )             (3,496 )
Net (income) loss attributable to Series B preferred stockholders
    (8,003 )             (8,003 )
Net (income) loss attributable to redeemable noncontrolling interests
    (6,770 )             (6,770 )
Net income attributable to common stockholders
  $ 17,693     $ 1,860       $ 19,553  
                           
Weighted-average common shares outstanding - basic
    17,402               17,402  
Weighted-average common shares outstanding - diluted
    17,402               17,402  
                           
Earnings per share outstanding - basic
  $ 1.02     $       $ 1.12  
Earnings per share outstanding - diluted
  $ 1.02     $       $ 1.12  
                           
Dividends declared per common share
  $ 2.0000     $       $ 2.0000  
 
5

 
NexPoint AG真人官方 Estate Finance, Inc.
Notes to Unaudited Pro Forma Consolidated Financial Statements
 
Note. 1         Basis of Presentation
 
The Unaudited Pro Forma Consolidated Balance Sheet includes three columns. The first column labeled "NREF Historical" represents the actual financial position of the Company as of March 31, 2025. The second column, entitled "Disposition of Montford" represents the pro forma adjustments required in order to reflect the balance sheet impact of the removal of the disposed assets as if the transaction had occurred on March 31, 2025, as described in Note 2. The third column, entitled "NREF Pro Forma" presents the pro forma condensed consolidated balance sheet of the Company as of March 31, 2025, excluding Montford.
 
The Unaudited Pro Forma Consolidated Statements of Operations include three columns. The first column labeled "NREF Historical" represents the actual results of operations for the three months ended March 31, 2025 and the year ended December 31, 2014. The second column, entitled "Disposition of Montford" represents the adjustments to remove the historical revenues and expenses of Montford for the periods presented, as described in Note 2. The third column, entitled "NREF Pro Forma" presents the pro forma results of operations of the Company for the three months ended March 31, 2025 and the year ended December 31, 2024, excluding Montford. The results presented on the Unaudited Pro Forma Consolidated Statements of Operations assume the sale of Montford closed on January 1, 2024 and presents pro forma operating results for the Company for the periods presented.
 
These Unaudited Pro Forma Financial Statements should not be considered indicative of future results.
 
Note. 2         Transaction Accounting Adjustments
The transaction accounting adjustments are based on our preliminary estimates and assumptions that are subject to change. The following adjustments have been reflected in the unaudited pro forma condensed consolidated financial information:
 
 
Adjustments to Unaudited Pro Forma Consolidated Balance Sheet
 
(A) The pro forma adjustment to cash was calculated as follows:
 
Gross sales price
  $ 60,000  
Closing and transaction costs
    (32,653 )
Net sales proceeds
  $ 27,347  
 
(B) The Company received the sales proceeds and removed the carrying values of Montford’s assets and liabilities, as shown in the following table
 
Net sales proceeds
  $ 27,347  
Less: Carrying value of AG真人官方 estate assets
    (55,907 )
Less: Carrying value of other assets
    (303 )
Plus: Carrying value of liabilities
    32,160  
Pro forma gain
  $ 3,297  
 
(C) The adjustment to accumulated deficit consists of the excess of cash received from the seller over the carrying value of the net assets transferred. This adjustment is not reflected in the Unaudited Pro Forma Consolidated Statement of Operations as the effect of the transaction is nonrecurring.
 
Adjustments to Unaudited Pro Forma Consolidated Statements of Operations
 
The adjustments to the Unaudited Pro Forma Consolidated Statements of Operations for the three months ended March 31, 2025 and the year ended December 31, 2024 are as follows:
 
(AA) These pro forma adjustments remove the actual historical revenues and expenses recorded from the operations of the Montford multifamily property.
 
 
6

 
SIGNATURES
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 
     
NEXPOINT REAL ESTATE FINANCE, INC.
   
By:
 
/s/ Paul Richards
   
Name: Paul Richards
Title: Chief Financial Officer, Executive VP-Finance, Assistant Secretary and Treasurer
 
Date: July 28, 2025
 
 
 
7

FAQ

Why did NREF sell the Hudson Montford property?

Management sought to recycle capital from a low-margin asset, cut mortgage debt and improve liquidity.

How much cash did NREF receive from the sale?

$27.3 million after transaction costs.

What is the impact on NREF's earnings per share?

FY-2024 basic EPS increases to $1.12 (+$0.10), while Q1-2025 EPS dips to $0.92 (-$0.02).

How does the sale affect NREF's debt levels?

Mortgage payable declines by $31.9 million, reducing interest expense risk.

Is the transaction related-party and was it arm鈥檚-length?

Yes, a director has interests in NexBank Capital, but the agreement was negotiated on an arm鈥檚-length basis.
Nexpoint AG真人官方 Estate Finance Inc

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255.97M
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REIT - Mortgage
AG真人官方 Estate Investment Trusts
United States
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