| Balance Sheets | 2026-03-31 | 2025-12-31 | 2025-09-30 | |
|---|---|---|---|---|
| Cash and cash equivalents | 22,643 | 31,114 | 17,921 | |
| Restricted cash | 2,604 | 3,240 | 3,640 | |
| Real estate investment property, at cost-Alexander At The District | 70,304 | 69,818 | 69,029 | |
| Real estate investment property, at cost-Mag May | 49,411 | 49,411 | NaN | |
| Building And Building Improvements | 5,399 | 4,524 | NaN | |
| Intangible Lease Assets | 363 | NaN | NaN | |
| Furniture Fixtures And Equipment | 1,014 | 826 | NaN | |
| Accumulated depreciation and amortization | 6,776 | 5,350 | 4,719 | |
| Net operating real estate investments | 112,939 | 113,879 | 64,310 | |
| Loans and leases receivable, net amount-Consolidated Entity Excluding Variable Interest Entities VIE | 679,376 | 619,560 | 583,646 | |
| Common stock investments | 52,860 | 49,104 | 51,566 | |
| Equity method investments (1,768 and 1,714 with related parties, respectively) | 1,768 | 1,714 | 1,660 | |
| Mortgage loans, held-for-investment, net | 108,903 | 121,239 | 122,176 | |
| Preferred stock investments, at fair value | 157,966 | 157,893 | 155,715 | |
| Accrued interest and dividends, net | 47,305 | 54,009 | 60,703 | |
| Loans and leases receivable, net amount-Variable Interest Entity Primary Beneficiary | 3,873,034 | 3,987,281 | 4,054,259 | |
| Cmbs structured pass-through certificates, at fair value-CMBSStructured Pass Through Certificates | 38,176 | 40,427 | 42,334 | |
| Stock warrant investments, at fair value | 136,739 | 141,186 | 116,228 | |
| Accounts receivable and other assets | 332 | 551 | 3,916 | |
| Total assets | 5,234,645 | 5,321,197 | 5,278,074 | |
| Secured financing agreements, net | 163,600 | 176,141 | 176,752 | |
| Master repurchase agreements | 164,614 | 258,038 | 257,605 | |
| Unsecured notes, net | 230,618 | 229,112 | 222,217 | |
| Mortgages payable, net | 106,151 | 106,151 | 63,500 | |
| Accounts payable and other accrued liabilities | 14,518 | 13,699 | 11,889 | |
| Accrued interest payable | 16,971 | 13,795 | 15,326 | |
| Bonds payable held in variable interest entities, at fair value | 3,688,881 | 3,692,390 | 3,755,809 | |
| Total liabilities | 4,385,353 | 4,489,326 | 4,503,098 | |
| Redeemable preferred stock-Redeemable Series BPreferred Stock | 358,767 | 359,783 | NaN | |
| Redeemable series b preferred stock | NaN | NaN | 305,564 | |
| Redeemable preferred stock-Redeemable Series CPreferred Stock | 19,265 | 1,868 | NaN | |
| Redeemable noncontrolling interests in the op | 82,508 | 82,235 | 93,989 | |
| Stockholders' equity attributable to noncontrolling interest-Variable Interest Entity Primary Beneficiary | NaN | 0 | 3,319 | |
| Stockholders' equity attributable to noncontrolling interest-Subsidiaries | 95 | 95 | 95 | |
| Preferred stock, value, outstanding | NaN | NaN | 16 | |
| Preferred stock, value, outstanding-Series APreferred Stock | 16 | 16 | NaN | |
| Common stock, value, outstanding | 187 | 186 | 177 | |
| Additional paid-in capital | 404,733 | 404,207 | 390,804 | |
| Retained earnings (accumulated deficit) | -16,279 | -16,519 | -18,988 | |
| Total stockholders' equity | 388,752 | 387,985 | 375,423 | |
| Total liabilities and stockholders' equity | 5,234,645 | 5,321,197 | 5,278,074 | |
NexPoint Real Estate Finance, Inc. (NREF-PA)
NexPoint Real Estate Finance, Inc. (NREF-PA)