Financial insights of NREF

MyFinsight

For the year ending 2025-12-31.

Income Statement	2025-12-31
Interest income	89,945
Interest expense	42,769
Total net interest income (loss)	47,176
Change in net assets related to consolidated cmbs variable interest entities-Variable Interest Entity Primary Beneficiary	12,497
Unrealized gain (loss)-CMBSStructured Pass Through Certificates	2,900
Change in unrealized gain (loss) on common stock investments-Common Stock	-8,819
Change in unrealized gain (loss) on preferred stock and stock warrant investments	112,556
Reversal of (provision for) credit losses	38,969
Dividend income	19,411
Other income (loss)	-28
Realized gain	0
Loss on extinguishment of debt	-458
Equity in losses of equity method investments	-898
Gain on sale from real estate owned	3,643
Revenues from consolidated real estate owned	7,818
Total other income (loss)	109,653
General and administrative expenses	12,652
Loan servicing fees	1,386
Management fees	6,757
Expenses from consolidated real estate owned	12,891
Total operating expenses	33,686
Net income	123,143
Net (income) loss attributable to preferred stockholders-Series APreferred Stock	3,496
Net (income) loss attributable to preferred stockholders-Series BPreferred Stock	25,912
Net (income) loss attributable to preferred stockholders-Series CPreferred Stock	13
Net (income) loss attributable to redeemable noncontrolling interests-Redeemable Noncontrolling Interests	18,046
Net income attributable to common stockholders	75,676

Basic EPS	4.28
Diluted EPS	2.85
Basic Average Shares	17,673,000
Diluted Average Shares	42,011,000