v3.26.1
Unconsolidated Variable Interest Entities
6 Months Ended
Jun. 30, 2026
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Unconsolidated Variable Interest Entities

6. Unconsolidated Variable Interest Entities

Unconsolidated VIEs

The Company continually reassesses whether it remains the primary beneficiary for VIEs consolidated under the VIE model.

As of June 30, 2026, the Company has accounted for the following investments as unconsolidated VIEs:

Entities

 

Instrument

 

Asset Type

 

Percentage Ownership as of
June 30, 2026

 

Unconsolidated Entities:

 

 

 

 

 

 

 

NexPoint Storage Partners, Inc.

 

Common Stock

 

Self-storage

 

 

27.6

%

Resmark Forney Gateway Holdings, LLC

 

Common Equity

 

Multifamily

 

 

98.0

%

Resmark The Brook Holdings, LLC

 

Common Equity

 

Multifamily

 

 

98.0

%

Private REIT

 

Common Stock

 

Ground Lease

 

 

6.2

%

As of December 31, 2025, the Company has accounted for the following investments as unconsolidated VIEs:

Entities

 

Instrument

 

Asset Type

 

Percentage Ownership as of
December 31, 2025

 

Unconsolidated Entities:

 

 

 

 

 

 

 

NexPoint Storage Partners, Inc.

 

Common Stock

 

Self-storage

 

 

26.0

%

Resmark Forney Gateway Holdings, LLC

 

Common Equity

 

Multifamily

 

 

98.0

%

Resmark The Brook Holdings, LLC

 

Common Equity

 

Multifamily

 

 

98.0

%

Private REIT

 

Common Stock

 

Ground Lease

 

 

6.2

%

Ridgeview Place

 

Common Equity

 

Multifamily

 

 

5.9

%

Capital Acquisitions Partners, LLC

 

Membership Interests

 

Multifamily

 

 

79.1

%

As of June 30, 2026, the Company's maximum exposure to loss of value for the NSP investment is the fair value of the Company's $27.4 million NSP common stock investment. As of June 30, 2026, the Company's maximum exposure to loss of value for the Private REIT investment is the fair value of the Company's $29.3 million Private REIT common stock investment. The combined maximum exposure of Resmark Gateway and Resmark Brook is zero.