NexPoint Real Estate Finance (NYSE: NREF) boosts note to $15M

Rhea-AI Filing Summary

NexPoint Real Estate Finance, Inc. disclosed that its subsidiary, NREF OP IV REIT Sub, LLC, entered into a second amendment and restatement of an existing promissory note with NexPoint SFR Operating Partnership, L.P., the operating partnership of NexPoint Homes Trust, Inc.

The amendment increases the maximum amount available under the note to $15.0 million, up from $5.0 million, and includes an additional funding of $5.0 million to the borrower. As of August 25, 2025, $10.0 million was outstanding. The note bears interest at 15.0% per annum, payable in kind, is interest-only during its term, and matures on July 10, 2026.

8-K Event Classification

Item 1.01 — Entry into a Material Definitive Agreement

1 item

Item 1.01 Entry into a Material Definitive Agreement Business

The company signed a significant contract such as a merger agreement, credit facility, or major partnership.

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false 0001786248 0001786248 2025-08-25 2025-08-25 0001786248 nref:CommonStockCustomMember 2025-08-25 2025-08-25 0001786248 nref:SeriesACumulativeRedeemablePreferredStock850CustomMember 2025-08-25 2025-08-25

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): August 25, 2025

NEXPOINT REAL ESTATE FINANCE, INC.

(Exact name of registrant as specified in its 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 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 NYSE Texas, Inc.
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.

Promissory Note

On August 25, 2025, NREF OP IV REIT Sub, LLC (“Holder”), a subsidiary of NexPoint Real Estate Finance, Inc. (the “Company”), entered into a second amendment and restatement of the Amended and Restated Promissory Note, dated January 17, 2025 (as amended, the “Original Note”), by and between the Holder and NexPoint SFR Operating Partnership, L.P. (the “SFR OP”), the operating partnership of NexPoint Homes Trust, Inc., an entity that is advised by an affiliate of the manager of the Company (the “Amendment” and, together with the Original Note, the “Note”).

In connection with the Amendment, the Holder increased the maximum amount available under the Note to $15.0 million from $5.0 million under the Original Note and funded an additional $5.0 million under the Note to the SFR OP. As of August 25, 2025, $10.0 million was outstanding under the Note. The Note bears interest at 15.0% per annum, is payable in kind, is interest only during the term of the Note and matures on July 10, 2026.

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.
/s/ Paul Richards
Name:	Paul Richards
Title:	Chief Financial Officer, Executive VP-Finance, Assistant Secretary and Treasurer

Date: August 27, 2025

FAQ

What did NexPoint Real Estate Finance (NREF) change in this promissory note?

The company, through its subsidiary NREF OP IV REIT Sub, LLC, entered into a second amendment and restatement of an existing promissory note with NexPoint SFR Operating Partnership, L.P., increasing the maximum amount available and updating the terms.

How much is now available under NREFs amended promissory note?

The amendment increases the maximum amount available under the promissory note to $15.0 million, up from the prior $5.0 million limit.

How much is currently outstanding under the NREF promissory note?

As of August 25, 2025, $10.0 million was outstanding under the promissory note between NREF OP IV REIT Sub, LLC and NexPoint SFR Operating Partnership, L.P.

What are the interest terms and maturity of NREFs amended note?

The note bears interest at 15.0% per annum, is payable in kind, is interest-only during its term, and matures on July 10, 2026.

Who is the borrower under NexPoint Real Estate Finances amended promissory note?

The borrower is NexPoint SFR Operating Partnership, L.P., the operating partnership of NexPoint Homes Trust, Inc., which is advised by an affiliate of the manager of NexPoint Real Estate Finance, Inc.

How much additional funding did NREF provide in connection with this amendment?

In connection with the amendment, the subsidiary funded an additional $5.0 million under the note to NexPoint SFR Operating Partnership, L.P.