The Company conducts its operations through the OP which owns several real estate properties through single asset limited liability companies that are special purpose entities (“SPEs”). The Company consolidates the SPEs that it controls as well as any variable interest entities ("VIEs") where it is the primary beneficiary. All of the properties the SPEs own are consolidated in the Company’s consolidated financial statements. The assets of each entity can only be used to settle obligations of that particular entity, and the creditors of each entity have no recourse to the assets of other entities or the Company.

As of June 30, 2026, the Company, through the OP, owned seven properties through SPEs, including four in the Diversified segment, and three in the Hospitality segment. The following table represents the Company’s ownership in each property by virtue of its consolidation of the SPEs that directly own the title to each property as of June 30, 2026 and December 31, 2025:


					Effective Ownership Percentage at
Property Name		Location	Year Acquired		June 30, 2026				December 31, 2025
White Rock Center		Dallas, Texas	2013			100	%			100	%
5916 W Loop 289		Lubbock, Texas	2013			100	%			100	%
Cityplace		Dallas, Texas	2018			100	%			100	%
NexPoint Dominion Land, LLC	(1)	Plano, Texas	2022			100	%			100	%
Dallas Hilton Garden Inn		Dallas, Texas	2014	(2)		100	%			100	%
St. Petersburg Marriott		St. Petersburg, Florida	2018	(2)		100	%			100	%
Hyatt Place Park City		Park City, Utah	2022	(2)		100	%			100	%
Bradenton Hampton Inn & Suites		Bradenton, Florida	2022	(2)		0	%	(3)		100	%

(1)

NexPoint Dominion Land, LLC owns 100% of 21.5 acres of undeveloped land in Plano, Texas.

(2)

Reflects the date NexPoint Hospitality Trust ("NHT") or its predecessor acquired the property.

(3)

Property was sold during the six months ended June 30, 2026.