United Development Funding IV fka UDFI

[Enterprising Investor]

The Case of the Tenuous Tender

Most of us know that on 2/25/22, NexPoint Advisors, L.P., investment adviser to the NexPoint Diversified Real Estate Trust, announced that the tender offer for UDFI has been extended to at least 3/25/22.

But why would NHF continue extending a tender offer in a position it no longer owns?

What!

According the just released 2021 Annual Report, NHF sold its 1,763,581 shares sometime during the year for $6,462,879 or about $3.66 per unit.

https://www.nexpoint.com/wp-content/uploads/2020/06/NexPoint-Diversified-Real-Estate-Trust-12.31.21-Final.pdf

Please see page 35

NexPoint Real Estate Strategies Fund still held 55,029 shares at 12/31/21, which it valued at $1.02 per unit.

https://www.nexpoint.com/wp-content/uploads/2020/07/NexPoint-Real-Estate-Strategies-Fund-AR-12.31.21-FINAL.pdf

See page 5.

Paul Drake and his operatives are already trying to dig up some answers. ;o)