NexPoint Diversified Real Estate Trust · NYSE:NXDT
NexPoint Diversified Real Estate Trust — Investor Presentation (September 2024)
13 slides from NexPoint Diversified Real Estate Trust's investor presentation, Sep 10, 2024
Slide 1: NexPoint Diversified Real Estate Trust Investor Presentation
NYSE: NXDT NexPoint Diversified Real Estate Trust Investor Presentation ADDRESS CONTACT 300 Crescent Ct Investor Relations Suite 700 Kristen Thomas, NexPoint Dallas, TX 75201 [email protected]
Slide 2: Risks and Disclosures
RISK AND DISCLOSURES Risks and Disclosures FORWARD-LOOKING STATEMENTS This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements reflect the current views of management with respect to future events and financial
Slide 3: NexPoint Diversified Real Estate Trust History
COMPANY TIMELINE NexPoint Diversified Real Estate Trust History NYSE :NX RT March 10, 2006 April 1, 2015 March 31, 2021 July 1, 2022 Company Inception NXRT Spins Out of NHF NHF Files Deregistration SEC Issues Application with SEC Deregistration Order August 28, 2020 November 8, 2021 June 29, 2023 NH
Slide 4: Higher Interest Rates Have Stunted Liquidity in Public Markets
CHALLENGING MACROECONOMIC BACKDROP Higher Interest Rates Have Stunted Liquidity in Public Markets During the roughly two-year period before NXDT’s deregistration on July 1, 2022, low interest rates produced a pace of REIT equity issuances averaging ~$12bn annually. Since then, significantly higher i
Slide 5: Strategic Reallocation of NXDT's Portfolio
PORTFOLIO REPOSITIONING STRATEGY Strategic Reallocation of NXDT’s Portfolio NXDT's portfolio consists of a diverse mix of equity, debt, and mezzanine investments across various major asset classes. We believe the market is undervaluing these assets due to the portfolio's diverse nature. In the comin
Slide 6: Potential Monetizations
PORTFOLIO REPOSITIONING STRATEGY Potential Monetizations MIDWAVE WIRELESS NEXPOINT HOMES NHT MARRIOTT UPTOWN Asset Class Wireless Spectrums Single-Family Rental Lodging Lodging Asset Class Asset Class Asset Class Asset Class Scope 2 licenses (1.4 & 1.7 GHZ) 2,570 homes / 11 States 1,652 keys / 8 Sta
Slide 7: Target Sector Reallocations
PORTFOLIO REPOSITIONING STRATEGY Target Sector Reallocations Residential Stable Home Price Residential properties provide a steady stream of rental income, contributing to predictable and stable cash flow for institutional investors. Long-term demand drivers Cash Flows Appreciation include populatio
Slide 8: VineBrook Homes Trust
TOP HOLDINGS VineBrook Homes Trust VineBrook Homes Trust, Inc. (“VineBrook”) is a single-family rental platform that, as of June 2024, owns ~21,100 homes with a stabilized occupancy of 95.8%. The company was started in 2008 in Ohio, with a strategy to purchase and renovate homes in the workforce hou
Slide 9: NexPoint Storage Partners
TOP HOLDINGS NexPoint Storage Partners In November 2020, NexPoint took private Jernigan Capital (formerly NYSE: JCAP), a high-quality publicly traded self-storage REIT with a differentiated business model and strategy, in a $900 million transaction. The company was immediately rebranded as NexPoint
Slide 10: CityPlace Tower
TOP HOLDINGS CityPlace Tower Property Overview Cityplace Tower (the “Property”) is a Class-A office building that was originally constructed in 1988 for ~$300 million. The Property is situated along the East side of Highway 75 and N. Haskell Ave., adjacent to the Uptown, Dallas sub-market and less t
Slide 11: NexPoint Real Estate Finance
TOP HOLDINGS NexPoint Real Estate Finance NexPoint Real Estate Finance, Inc. (“NREF”) is a publicly traded mortgage REIT, Asset Type Exposure with its shares of common stock and 8.50% Series A Cumulative Redeemable Preferred Stock listed on the New York Stock Exchange. NREF concentrates on investmen
Slide 12: MidWave Wireless, Inc.
TOP HOLDINGS MidWave Wireless, Inc. MidWave Wireless, Inc. (“MidWave”), formerly TerreStar Corporation, is one of the largest independent wireless spectrum license holders in the United States. Founded in 2013, MidWave’s mid-band spectrum investments cover every major domestic market, representing m
Slide 13: Implied Pricing at 70% Discount to NAV
NXDT PROPERTY PORTFOLIO Implied Pricing at 70% Discount to NAV1 The NAV bridge below shows NXDT’s holdings at the implied valuation based on the company’s current market cap, which represents a 70% discount to NAV. When using stabilized values for NXDT’s most liquid top 5 holdings with potential mon
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