NRESF / NEXPOINT REAL ESTATE STRATEGIES FUND - SEC-arkiveringar, Årsredovisning, Fullmaktsutlåtande

As filed with the Securities and Exchange Commission on April 30, 2025

As filed with the Securities and Exchange Commission on April 30, 2025 1933 Act File No.

CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM We hereby consent to the incorporation by reference in this Registration Statement on Form N- 2 of our report dated March 11, 2025, relating to the financial statements and financial highlights of NexPoint Real Estate Strategies Fund, which are included in Form N-CSR for the year ended December 31, 2024, and to the references to our firm under the headings “Financial Highlights” and “Independent Registered Public Accounting Firm” in the Prospectus, and “Financial Statements” and “Independent Registered Public Accounting Firm” in the Statement of Additional Information.

CONSENT OF COUNSEL

CONSENT OF COUNSEL We hereby consent to the use of our name and the references to our firm under the caption “Legal Counsel” included in or made a part of Post-Effective Amendment No. 14 to the Registration Statement of NexPoint Real Estate Strategies Fund (File No. 333-209022), on Form N-2 under the Securities Act of 1933, as amended. /s/ K&L Gates LLP K&L Gates LLP April 30, 2025

AMENDED AND RESTATED EXPENSE LIMITATION AND REIMBURSEMENT AGREEMENT NEXPOINT REAL ESTATE STRATEGIES FUND

AMENDED AND RESTATED EXPENSE LIMITATION AND REIMBURSEMENT AGREEMENT NEXPOINT REAL ESTATE STRATEGIES FUND THIS AGREEMENT is hereby made as of the 1st of May, 2025 (this “Agreement”) between NexPoint Real Estate Strategies Fund, a Delaware statutory trust (the “Trust”), and NexPoint Advisors, L.

NEXPOINT REAL ESTATE STRATEGIES FUND (the “Fund”) Supplement dated July 24, 2024 to the Fund’s Statement of Additional Information (the “SAI”), dated April 30, 2024, as supplemented from time to time

NEXPOINT REAL ESTATE STRATEGIES FUND (the “Fund”) Supplement dated July 24, 2024 to the Fund’s Statement of Additional Information (the “SAI”), dated April 30, 2024, as supplemented from time to time This supplement provides new and additional information beyond that contained in the SAI and should be read in conjunction with the SAI.

AMENDED AND RESTATED EXPENSE LIMITATION AND REIMBURSEMENT AGREEMENT NEXPOINT REAL ESTATE STRATEGIES FUND

Amended and Restated Expense Limitation and Reimbursement Agreement AMENDED AND RESTATED EXPENSE LIMITATION AND REIMBURSEMENT AGREEMENT NEXPOINT REAL ESTATE STRATEGIES FUND THIS AGREEMENT is hereby made as of the 1st of May, 2024 (this “Agreement”) between NexPoint Real Estate Strategies Fund, a Delaware statutory trust (the “Trust”), and NexPoint Advisors, L.

ADVISORY AGREEMENT

ADVISORY AGREEMENT THIS ADVISORY AGREEMENT (this “Agreement”), dated as of April 18, 2024, is entered into by and between NRESF REIT Sub II, LLC, a Delaware limited liability company (the “Company”) and NexPoint Advisors, L.

CODE OF ETHICS POLICY Purpose and Scope

Code of Ethics of NexPoint Advisors, L.P. CODE OF ETHICS POLICY Purpose and Scope The purpose of the Code of Ethics Policy (this “Policy’’) is to implement a policy of strict compliance with the highest standards of ethical business conduct and the provisions of applicable federal securities laws, including rules and regulations promulgated by the SEC. This Policy provides guidance to all Company

CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

Consent of Independent Registered Public Accounting Firm CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM We hereby consent to the incorporation by reference in this Registration Statement on Form N-2 of our report dated March 1, 2024, relating to the financial statements and financial highlights of NexPoint Real Estate Strategies Fund, for the year ended December 31, 2023, and to the references to our firm under the headings “Financial Highlights” and “Independent Registered Public Accounting Firm” in the Prospectus and “Independent Registered Public Accounting Firm” and “Financial Statements” in the Statement of Additional Information.

CONSENT OF COUNSEL

Opinion and Consent of Counsel CONSENT OF COUNSEL We hereby consent to the use of our name and the references to our firm under the caption “Legal Counsel” included in or made a part of Post-Effective Amendment No.

As filed with the Securities and Exchange Commission on April 29, 2024

As filed with the Securities and Exchange Commission on April 29, 2024 1933 Act File No.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM N-23c-3 NOTIFICATION OF REPURCHASE OFFER PURSUANT TO RULE 23c-3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM N-23c-3 NOTIFICATION OF REPURCHASE OFFER PURSUANT TO RULE 23c-3 1. Investment Company Act File Number: 811-23129 Date of Notification: February 23, 2024 2. Exact name of investment company as specified in registration statement: NexPoint Real Estate Strategies Fund 3. Address of principal executive office: 300 Crescent Co

NEXPOINT REAL ESTATE STRATEGIES FUND (the “Fund”) Supplement dated November 14, 2023 to the Fund’s Prospectus and Statement of Additional Information (“SAI”), each dated April 30, 2023, as supplemented from time to time

NEXPOINT REAL ESTATE STRATEGIES FUND (the “Fund”) Supplement dated November 14, 2023 to the Fund’s Prospectus and Statement of Additional Information (“SAI”), each dated April 30, 2023, as supplemented from time to time This supplement provides new and additional information beyond that contained in the Prospectus and the SAI and should be read in conjunction with the Prospectus and the SAI.

DONDERO JAMES D - SCHEDULE 13D/A

SC 13D/A 1 jdond20230928sc13da.htm SCHEDULE 13D/A SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 SCHEDULE 13D Under the Securities Exchange Act of 1934 (Amendment No. 5) NexPoint Real Estate Strategies Fund (Name of Issuer) Class Z Shares of Beneficial Interest (Title of Class of Securities) 65342M309 (CUSIP NUMBER) Stephanie Vitiello, Chief Compliance Officer NexPoint Advisors, L.P. 30

JOINT FILING AGREEMENT

EXHIBIT 99.1 JOINT FILING AGREEMENT In accordance with Rule 13d-1(k) under the Securities Exchange Act of 1934, as amended, the undersigned agree to the joint filing on behalf of each of them of a Statement on Schedule 13D (including any and all amendments thereto) with respect to the Class Z Shares of Beneficial Interest, no par value, of NexPoint Real Estate Strategies Fund, a Delaware statutory

Collateral Pledged

CONSOLIDATED INVESTMENT PORTFOLIO (unaudited) As of March 31, 2023 NexPoint Real Estate Strategies Shares Amortized Cost ($) Value ($) Common Stock — 62.

Amortized Cost ($)

CONSOLIDATED INVESTMENT PORTFOLIO (unaudited) As of September 30, 2022 NexPoint Real Estate Strategies Shares Amortized Cost ($) Value ($) Common Stock — 72.

2

CORRESP May 4, 2023 VIA EDGAR AND EMAIL U.S. Securities and Exchange Commission Division of Investment Management Office of Disclosure and Review 100 F Street, NE Washington, DC 20549 Attention: Ms. Megan Miller Re: NexPoint Funds I (File No. 811-21866) Highland Income Fund (File No. 811-23268) Highland Global Allocation Fund (File No. 811-23369) NexPoint Real Estate Strategies Fund (File No. 811-

As filed with the Securities and Exchange Commission on April 28, 2023

As filed with the Securities and Exchange Commission on April 28, 2023 1933 Act File No.

AMENDED AND RESTATED EXPENSE LIMITATION AND REIMBURSEMENT AGREEMENT NEXPOINT REAL ESTATE STRATEGIES FUND

Amended and Restated Expense Limitation and Reimbursement Agreement AMENDED AND RESTATED EXPENSE LIMITATION AND REIMBURSEMENT AGREEMENT NEXPOINT REAL ESTATE STRATEGIES FUND THIS AGREEMENT is hereby made as of the 1st of May, 2023 (this “Agreement”) between NexPoint Real Estate Strategies Fund, a Delaware statutory trust (the “Trust”), and NexPoint Advisors, L.

NEXPOINT REAL ESTATE STRATEGIES FUND POWER OF ATTORNEY

NEXPOINT REAL ESTATE STRATEGIES FUND POWER OF ATTORNEY NexPoint Real Estate Strategies Fund (the “Trust”) and the undersigned Trustee constitutes and appoints each of James Dondero, Brian Mitts, Frank Waterhouse, Will Mabry, Dustin Norris and Stephanie Vitiello (with full power to each of them to act alone) his/her true and lawful attorney-in-fact and agent, for him/her and on his/her behalf and i

CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

Consent of Independent Registered Public Accounting Firm CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM We hereby consent to the incorporation by reference in this Registration Statement on Form N-2 of our report dated March 3, 2023, relating to the financial statements and financial highlights of NexPoint Real Estate Strategies Fund for the year ended December 31, 2022, and to the references to our firm under the headings “Financial Highlights” and “Independent Registered Public Accounting Firm” in the Prospectus and “Independent Registered Public Accounting Firm” and “Financial Statements” in the Statement of Additional Information.

NEXPOINT REAL ESTATE STRATEGIES FUND (the “Fund”) Supplement dated March 10, 2023 to the Fund’s Statement of Additional Information (the “SAI”), dated April 30, 2022, as supplemented from time to time

NexPoint Real Estate Strategies Fund NEXPOINT REAL ESTATE STRATEGIES FUND (the “Fund”) Supplement dated March 10, 2023 to the Fund’s Statement of Additional Information (the “SAI”), dated April 30, 2022, as supplemented from time to time This supplement provides new and additional information beyond that contained in the SAI and should be read in conjunction with the SAI.

Amortized Cost ($)

NPORT-EX 2 NRESSchF.htm SCHEDULE F CONSOLIDATED INVESTMENT PORTFOLIO (unaudited) As of September 30, 2022 NexPoint Real Estate Strategies Shares Amortized Cost ($) Value ($) Common Stock — 72.0% Financials — 1.9% 32,859 AFC Gamma 552,953 502,742 22,500 MFA Financial, REIT 246,313 175,050 677,792 Real Estate — 21.3% 160,205 IQHQ, Inc. (a)(b) 2,467,701 4,485,740 4,402 NexPoint SFR Operating Partners

Collateral Pledged

HTML CONSOLIDATED INVESTMENT PORTFOLIO (unaudited) As of March 31, 2022 NexPoint Real Estate Strategies Shares Amortized Cost ($) Value ($) Common Stock — 79.

NEXPOINT REAL ESTATE STRATEGIES FUND (the ?Fund?) Supplement dated May 2, 2022 to the Fund?s Statement of Additional Information (the ?SAI?), dated April 30, 2022, as supplemented from time to time

NEXPOINT REAL ESTATE STRATEGIES FUND (the ?Fund?) Supplement dated May 2, 2022 to the Fund?s Statement of Additional Information (the ?SAI?), dated April 30, 2022, as supplemented from time to time This supplement provides new and additional information beyond that contained in the SAI and should be read in conjunction with the SAI.

Powers of Attorney dated June 8, 2021 and January 11, 2022 (10)

EX-99.(T) 4 d355251dex99t.htm POWERS OF ATTORNEY NEXPOINT REAL ESTATE STRATEGIES FUND POWER OF ATTORNEY NexPoint Real Estate Strategies Fund (the “Trust”) and the undersigned Trustee constitutes and appoints each of James Dondero, Brian Mitts, Frank Waterhouse, Will Mabry, Dustin Norris and Stephanie Vitiello (with full power to each of them to act alone) his/her true and lawful attorney-in-fact a

Consent of Independent Registered Public Accounting Firm (10)

CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM We hereby consent to the incorporation by reference in this Registration Statement on Form N-1A of our report dated March 4, 2022, relating to the financial statements and financial highlights of NexPoint Real Estate Strategies Fund, for the year ended December 31, 2021, and to the references to our firm under the headings ?Financial Highlights? and ?Independent Registered Public Accounting Firm? in the Prospectus and ?Independent Registered Public Accounting Firm? and ?Financial Statements? in the Statement of Additional Information.

Amended and Restated Expense Limitation and Reimbursement Agreement, dated May 1, 2022, between the Registrant and NexPoint Advisors, L.P. (10)

EX-99.(K)(1) 2 d355251dex99k1.htm AMENDED AND RESTATED EXPENSE LIMITATION AND REIMBURSEMENT AGREEMENT AMENDED AND RESTATED EXPENSE LIMITATION AND REIMBURSEMENT AGREEMENT NEXPOINT REAL ESTATE STRATEGIES FUND THIS AGREEMENT is hereby made as of the 1st of May, 2022 (this “Agreement”) between NexPoint Real Estate Strategies Fund, a Delaware statutory trust (the “Trust”), and NexPoint Advisors, L.P.,

The SAI

Table of Contents As filed with the Securities and Exchange Commission on April 29, 2022 1933 Act File No.

DONDERO JAMES D - SCHEDULE 13D/A

SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 SCHEDULE 13D Under the Securities Exchange Act of 1934 (Amendment No. 4) NexPoint Real Estate Strategies Fund (Name of Issuer) Class Z Shares of Beneficial Interest (Title of Class of Securities) 65342M309 (CUSIP NUMBER) Stephanie Vitiello, Chief Compliance Officer NexPoint Advisors, L.P. 300 Crescent Court, Suite 700 Dallas, Texas 75201 (N

Joint Filing Agreement by and among the Reporting Persons.

EXHIBIT 99.1 JOINT FILING AGREEMENT In accordance with Rule 13d-1(k) under the Securities Exchange Act of 1934, as amended, the undersigned agree to the joint filing on behalf of each of them of a Statement on Schedule 13D (including any and all amendments thereto) with respect to the Class Z Shares of Beneficial Interest, no par value, of NexPoint Real Estate Strategies Fund, a Delaware statutory

NEXPOINT REAL ESTATE STRATEGIES FUND (the “Fund”) Supplement dated January 13, 2022 to the Fund’s Statement of Additional Information (the “SAI”), dated April 30, 2021, as supplemented from time to time

NexPoint Real Estate Strategies Fund NEXPOINT REAL ESTATE STRATEGIES FUND (the “Fund”) Supplement dated January 13, 2022 to the Fund’s Statement of Additional Information (the “SAI”), dated April 30, 2021, as supplemented from time to time This supplement provides new and additional information beyond that contained in the SAI and should be read in conjunction with the SAI.

Amortized Cost ($)

CONSOLIDATED INVESTMENT PORTFOLIO (unaudited) As of September 30, 2021 NexPoint Real Estate Strategies Shares Amortized Cost ($) Value ($) Common Stock — 76.

Amortized Cost ($)

CONSOLIDATED INVESTMENT PORTFOLIO (unaudited) As of September 30, 2021 NexPoint Real Estate Strategies Shares Amortized Cost ($) Value ($) Common Stock — 76.

1

November 3, 2021 VIA EDGAR AND EMAIL U.S. Securities and Exchange Commission Division of Investment Management 100 F Street, N.E. Washington, D.C. 20549 Attention: Ms. Christina DiAngelo Fettig Re: Highland Funds I (File No. 811-21866), Highland Income Fund (File No. 811-23268), NexPoint Real Estate Strategies Fund (File No. 811-23129), and NexPoint Strategic Opportunities Fund (File No. 811-21869

Amortized Cost ($)(a)

INVESTMENT PORTFOLIO (unaudited) As of March 31, 2021 NexPoint Real Estate Strategies Shares Amortized Cost ($)(a) Value ($) Common Stock — 61.

Amendment 6 to Master Custodian Agreement, dated March 18, 2021 (9)

EX-99.(J)(7) 4 d570965dex99j7.htm AMENDMENT 6 TO MASTER CUSTODIAN AGREEMENT AMENDMENT TO CUSTODY AGREEMENT This Amendment (“Amendment”) is made as of the 18th day of March, 2021, by and between each Fund listed on Annex A to the Agreement (as defined below) (each, a “Fund”) and THE BANK OF NEW YORK MELLON (“BNY Mellon”). BACKGROUND: A. BNY Mellon and each Fund entered into a Custody Agreement date

Amendment 4 to Master Custodian Agreement, dated December 21, 2020 (9)

EX-99.(J)(5) 2 d570965dex99j5.htm AMENDMENT 4 TO MASTER CUSTODIAN AGREEMENT AMENDMENT TO CUSTODY AGREEMENT This Amendment (“Amendment”) is made as of the 21st day of December, 2020, by and between each Fund listed on Annex A to the Agreement (as defined below) (each, a “Fund”) and THE BANK OF NEW YORK MELLON (“BNY Mellon”). BACKGROUND: A. BNY Mellon and each Fund entered into a Custody Agreement d

Code of Ethics of the Registrant (9)

EX-99.(R)(1) 7 d570965dex99r1.htm CODE OF ETHICS OF THE REGISTRANT CODE OF ETHICS of Highland Funds I, Highland Funds II, NexPoint Strategic Opportunities Fund, NexPoint Capital, Inc., NexPoint Real Estate Strategies Fund, Highland Income Fund, and Highland Global Allocation Fund (each a “Fund” and collectively, the “Funds”) A. Legal Requirement. Rule 17j-1(b) under the Investment Company Act of 1

Amendment 5 to Master Custodian Agreement, dated February 18, 2021 (9)

AMENDMENT TO CUSTODY AGREEMENT This Amendment (?Amendment?) is made as of the 18th day of February, 2021, by and between each Fund listed on Annex A to the Agreement (as defined below) (each, a ?Fund?) and THE BANK OF NEW YORK MELLON (?BNY Mellon?).

Amended and Restated Expense Limitation and Reimbursement Agreement, dated May 1, 2021, between the Registrant and NexPoint Advisors, L.P. (9)

Consent of Independent Registered Public Accounting Firm (9)

EX-99.(N) 6 d570965dex99n.htm CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM We hereby consent to the incorporation by reference in this Registration Statement on Form N-1A of our report dated March 3, 2021, relating to the financial statements and financial highlights of NexPoint Real Estate Strategies Fund for the year ended Dece

- NEXPOINT REAL ESTATE STRATEGIES FUND

Table of Contents As filed with the Securities and Exchange Commission on April 30, 2021 1933 Act File No.

Expiration Date

HTML INVESTMENT PORTFOLIO (unaudited) As of September 30, 2020 NexPoint Real Estate Strategies Shares Amortized Cost ($)(a) Value ($) Preferred Stock — 24.

- SCHEDULE F

HTML INVESTMENT PORTFOLIO (unaudited) As of September 30, 2019 NexPoint Real Estate Strategies Shares/Principal Amount ($) Amortized Cost ($)(a) Value ($) Preferred Stock — 33.

- SCHEDULE F

HTML INVESTMENT PORTFOLIO (unaudited) As of March 31, 2020 NexPoint Real Estate Strategies Shares Amortized Cost ($)(a) Value ($) Common Stock — 52.

Collateral Pledged

HTML INVESTMENT PORTFOLIO (unaudited) As of March 31, 2020 NexPoint Real Estate Strategies Shares Amortized Cost ($)(a) Value ($) Common Stock — 52.

Bridge Credit Agreement dated February 7, 2020, between NexPoint Real Estate Finance Operating Partnership, L.P., the Registrant, Highland Income Fund, Highland Global Allocation Fund, NexPoint Strategic Opportunities Fund and KeyBank, National Association. (8)

BRIDGE CREDIT AGREEMENT dated as of February 7, 2020 among NEXPOINT REAL ESTATE FINANCE OPERATING PARTNERSHIP, L.

Powers of Attorney for Dr. Bob Froehlich, John W. Honis, Ethan Powell and Bryan A. Ward (8)

NEXPOINT REAL ESTATE STRATEGIES FUND POWER OF ATTORNEY NexPoint Real Estate Strategies Fund (the “Trust”) and the undersigned Trustee constitutes and appoints each of James Dondero, Brian Mitts, Frank Waterhouse, Clifford Stoops, Dustin Norris and Lauren Thedford (with full power to each of them to act alone) his/her true and lawful attorney-in-fact and agent, for him/her and on his/her behalf and

Amendment 3 to Master Custodian Agreement, dated June 14, 2019 (8)

AMENDMENT TO CUSTODY AGREEMENT This Amendment ("Amendment") is made as of the 14th day of June, 2019, by and between each Fund listed on Annex A to the Agreement (as defined below) (each, a "Fund") and THE BANK OF NEW YORK MELLON ("BNY Mellon").

(n) Consent of Independent Registered Public Accounting Firm (8)

CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM We hereby consent to the incorporation by reference in this Registration Statement on Form N-2 of our report dated March 2, 2020, relating to the financial statements and financial highlights of NexPoint Real Estate Strategies Fund for the year ended December 31, 2019, and to the references to our firm under the headings “Financial Highlights” and “Independent Registered Public Accounting Firm” in the Prospectus and “Independent Registered Public Accounting Firm” and “Financial Statements” in the Statement of Additional Information.

Annex to the Master Repurchase Agreement dated October 3, 2019, between the Registrant and Mizuho Securities USA LLC. (8).

EX-99.(K)(7) 5 f4703d5.htm ANNEX TO THE MASTER REPURCHASE AGREEMENT Master Repurchase Agreement September 1996 Version Dated as of October 3, 2019 Between: Mizuho Securities USA LLC and NexPoint Real Estate Strategies Fund 1. Applicability From time to time the parties hereto may enter into transactions in which one party ("Seller") agrees to transfer to the other ("Buyer") securities or other ass

(k) (1) Amended and Restated Expense Limitation and Reimbursement Agreement, dated May 1, 2020, between the Registrant and NexPoint Advisors, L.P. (8)

AMENDED AND RESTATED EXPENSE LIMITATION AND REIMBURSEMENT AGREEMENT NEXPOINT REAL ESTATE STRATEGIES FUND THIS AGREEMENT is hereby made as of the 1st of May, 2020 (this "Agreement") between NexPoint Real Estate Strategies Fund, a Delaware statutory trust (the "Trust"), and NexPoint Advisors, L.

- FORM 486BPOS

As filed with the Securities and Exchange Commission on April 29, 2020 1933 Act File No.

Dividend Reinvestment Plan (8)

NexPoint Real Estate Strategies Fund Dividend Reinvestment Plan 1. TERMS AND CONDITIONS Pursuant to this Automatic Dividend Reinvestment Plan (the “Plan”) of the undersigned NexPoint Real Estate Strategies Fund (the “Trust”), unless a holder (a “Shareholder”) of the Trust’s shares of beneficial interest (the “Shares”) otherwise elects, all ordinary income dividends, capital gain distributions or o

NRESF / NEXPOINT REAL ESTATE STRATEGIES FUND NT-NCEN - - FORM NT-NCEN

Form NT-NCEN SEC FILE NUMBER 811-23129 CUSIP NUMBER 65342M309 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.

NRESF / NEXPOINT REAL ESTATE STRATEGIES FUND NT-NCSR - - FORM NT-NCSR

Form NT-NCSR UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SEC FILE NUMBER 811-23129 CUSIP NUMBER 65342M309 FORM 12b-25 NOTIFICATION OF LATE FILING (Check one): ☐ Form 10-K ☐ Form 20-F ☐ Form 11-K ☐ Form 10-Q ☐ Form 10-D ☐ Form N-CEN ☒ Form N-CSR For Period Ended: December 31, 2019 ☐ Transition Report on Form 10-K ☐ Transition Report on Form 20-F ☐ Transition Report on Fo

NRESF / NEXPOINT REAL ESTATE STRATEGIES FUND NPORT-EX - - SCHEDULE F

INVESTMENT PORTFOLIO (unaudited) As of September 30, 2019 NexPoint Real Estate Strategies Shares/Principal Amount ($) Amortized Cost ($)(a) Value ($) Preferred Stock — 33.

NRESF / NEXPOINT REAL ESTATE STRATEGIES FUND / Sentinel Reinsurance, Ltd. - SC 13D/A Activist Investment

SC 13D/A 1 d740459dsc13da.htm SC 13D/A SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 SCHEDULE 13D (Rule 13d-101) Under the Securities Exchange Act of 1934 (Amendment No. 1)* NexPoint Real Estate Strategies Fund (Name of Issuer) Class Z Shares of Beneficial Interest (Title of Class of Securities) 65342M309 (CUSIP NUMBER) MAPLES FS PO BOX 1093, BOUNDARY HALL CRICKET SQUARE, GRAND CAYMAN,

JOINT FILING AGREEMENT

EX-99.2 2 d740459dex992.htm EX-99.2 EXHIBIT 99.2 JOINT FILING AGREEMENT In accordance with Rule 13d-1(k) under the Securities Exchange Act of 1934, as amended, the undersigned agree to the joint filing on behalf of each of them of a Statement on Schedule 13D (including any and all amendments thereto) with respect to the Class Z Shares of Beneficial Interest of NexPoint Real Estate Strategies Fund,

NRESF / NEXPOINT REAL ESTATE STRATEGIES FUND NPORT-EX - - PART F

HTML INVESTMENT PORTFOLIO (unaudited) As of March 31, 2019 NexPoint Real Estate Strategies Shares Amortized Cost ($)(a) Value ($) Preferred Stock — 37.

Amendment 2 to Master Custodian Agreement, dated April 8, 2019 (7)

Amendment 2 to Master Custodian Agreement Highland Funds AMENDMENT TO CUSTODY AGREEMENT This Amendment (“Amendment”) is made as of the 8th day of April, 2019 by and between each management investment company listed on Annex A to the Agreement (as defined below) (each, a “Fund”) and THE BANK OF NEW YORK MELLON (“BNY Mellon”).

NRESF / NEXPOINT REAL ESTATE STRATEGIES FUND 486BPOS FORM 486BPOS

Form 486BPOS Table of Contents As filed with the Securities and Exchange Commission on April 29, 2019 1933 Act File No.

Amendment 1 to Master Custodian Agreement, dated April 8, 2019 (7)

Amendment 1 to Master Custodian Agreement EXECUTION AMENDMENT TO CUSTODY AGREEMENT This Amendment (“Amendment”) is made as of the 8th day of April, 2019, by and between each Fund listed on Annex A to the Agreement (as defined below) (each, a “Fund”) and THE BANK OF NEW YORK MELLON (“BNY Mellon”).

Master Custodian Agreement with Bank of New York Mellon, dated October 3, 2018 (7)

EX-99.(J)(1) 2 d696366dex99j1.htm MASTER CUSTODIAN AGREEMENT CUSTODY AGREEMENT by and between EACH FUND LISTED ON ANNEX A and THE BANK OF NEW YORK MELLON TABLE OF CONTENTS PAGE SECTION 1 – CUSTODY ACCOUNTS; INSTRUCTIONS 1 1.1 Definitions 1 1.2 Establishment of Account 3 1.3 Representations and Warranties 4 1.4 Distributions 5 1.5 Authorized Instructions 5 1.6 Authentication 6 1.7 On-Line Systems 6

CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

Consent of Independent Registered Public Accounting Firm CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM We hereby consent to the incorporation by reference in this Registration Statement on Form N-2 of our report dated March 1, 2019, relating to the financial statements and financial highlights of NexPoint Real Estate Strategies Fund for the year ended December 31, 2018, and to the references to our firm under the headings “Financial Highlights” and “Independent Registered Public Accounting Firm” in the Prospectus and “Independent Registered Public Accounting Firm” and “Financial Statements” in the the Statement of Additional Information.

NRESF / NEXPOINT REAL ESTATE STRATEGIES FUND FORM N-Q (Quarterly Schedule of Portfolio Holdings)

Form N-Q UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM N-Q QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT INVESTMENT COMPANY Investment Company Act file number: 811-23129 NEXPOINT REAL ESTATE STRATEGIES FUND (Exact name of registrant as specified in charter) 200 Crescent Court Suite 700 Dallas, Texas 75201 (Address of principal executive offices)(Z

Certification Pursuant to Rule 30a-2(a) under the 1940 Act and Section 302 of the Sarbanes-Oxley Act

EX-99.CERT 2 d652092dex99cert.htm CERTIFICATIONS Certification Pursuant to Rule 30a-2(a) under the 1940 Act and Section 302 of the Sarbanes-Oxley Act I, James Dondero, certify that: 1. I have reviewed this report on Form N-Q of NexPoint Real Estate Strategies Fund; 2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necess

NRESF / NEXPOINT REAL ESTATE STRATEGIES FUND POS EX

POS EX As filed with the Securities and Exchange Commission on October 9, 2018 1933 Act File No.

SPECIAL CUSTODY and PLEDGE AGREEMENT

EX-99.(K)(7) 3 d625259dex99k7.htm EXHIBIT (K)(7) Execution Version SPECIAL CUSTODY and PLEDGE AGREEMENT AGREEMENT (hereinafter “Agreement”), dated as of September 20, 2018, among State Street Bank and Trust Company, a Massachusetts trust company, in its capacity as custodian hereunder (“Custodian”), NexPoint Real Estate Strategies Fund (the “Fund”), and BNP Paribas Securities Corp. (the “Counterpa

U.S. Prime Brokerage Agreement, dated September 25, 2018, between the Registrant and BNP Paribas Securities Corp. (6)

Exhibit (k)(8) Execution copy U.S. PB Agreement This U.S. PB Agreement (including all terms, schedules, supplements and exhibits attached hereto, this “Agreement”) is entered into between the customer specified below (“Customer”) and BNP Paribas Securities Corp. (“BNPP PB”) on behalf of itself and as agent for the BNPP Entities (as defined in the Account Agreement attached as Exhibit A hereto). Th

CUSTODY AGREEMENT by and between EACH FUND LISTED ON ANNEX A THE BANK OF NEW YORK MELLON TABLE OF CONTENTS PAGE SECTION 1 – CUSTODY ACCOUNTS; INSTRUCTIONS 1 1.1 Definitions 1 1.2 Establishment of Account 3 1.3 Representations and Warranties 3 1.4 Dis

Exhibit (j)(3) CUSTODY AGREEMENT by and between EACH FUND LISTED ON ANNEX A and THE BANK OF NEW YORK MELLON TABLE OF CONTENTS PAGE SECTION 1 – CUSTODY ACCOUNTS; INSTRUCTIONS 1 1.

Master Sub-Administration Agreement, dated July 23, 2018, between NexPoint Advisors, L.P., on behalf of the Registrant, and SEI Investments Global Funds Services (6)

Exhibit (k)(9) SUB-ADMINISTRATION AGREEMENT THIS SUB-ADMINISTRATION AGREEMENT (this “Agreement”) is made as of the 23rd day of July, 2018 (the “Effective Date”), by and between Highland Capital Management Fund Advisors, L.

NRESF / NEXPOINT REAL ESTATE STRATEGIES FUND / HIGHLAND CAPITAL MANAGEMENT LP - SC 13D/A Activist Investment

SC 13D/A SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 SCHEDULE 13D/A (Amendment No. 3) (Rule 13d-101) Under the Securities Exchange Act of 1934 NexPoint Real Estate Strategies Fund (Name of Issuer) Class Z Shares of Beneficial Interest (Title of Class of Securities) 65342M309 (CUSIP NUMBER) Jason Post, Chief Compliance Officer NexPoint Advisors, L.P. 300 Crescent Court, Suite 700 Dall

Certification Pursuant to Rule 30a-2(a) under the 1940 Act and Section 302 of the Sarbanes-Oxley Act

EX-99.CERT EX-99.CERT Certification Pursuant to Rule 30a-2(a) under the 1940 Act and Section 302 of the Sarbanes-Oxley Act I, James Dondero, certify that: 1. I have reviewed this report on Form N-Q of NexPoint Real Estate Strategies Fund; 2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements

Nexpoint Real Estate Strategies Fund - N-Q

N-Q UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM N-Q QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT INVESTMENT COMPANY Investment Company Act file number: 811-23129 NEXPOINT REAL ESTATE STRATEGIES FUND (Exact name of registrant as specified in charter) 200 Crescent Court Suite 700 Dallas, Texas 75201 (Address of principal executive offices)(Zip co

AMENDED AND RESTATED EXPENSE LIMITATION AND REIMBURSEMENT AGREEMENT NEXPOINT REAL ESTATE STRATEGIES FUND

Exhibit (k)(1) Exhibit (k)(1) AMENDED AND RESTATED EXPENSE LIMITATION AND REIMBURSEMENT AGREEMENT NEXPOINT REAL ESTATE STRATEGIES FUND THIS AGREEMENT is hereby made as of the 1st day of May, 2018 (this “Agreement”) between NexPoint Real Estate Strategies Fund, a Delaware statutory trust (the “Trust”), and NexPoint Advisors, L.

April 26, 2018

Exhibit (l)(2) Exhibit (l)(2) Stradley Ronon Stevens & Young, LLP 1250 Connecticut Avenue, N.

Consent of Independent Registered Public Accounting Firm

Exhibit (n) Exhibit (n) Consent of Independent Registered Public Accounting Firm The Board of Trustees NexPoint Real Estate Strategies Fund: We consent to the use of our report, dated February 28, 2018, with respect to the financial statements of NexPoint Real Estate Strategies Fund, incorporated herein by reference.

NRESF / NEXPOINT REAL ESTATE STRATEGIES FUND FORM 486BPOS

Form 486BPOS Table of Contents As filed with the Securities and Exchange Commission on April 26, 2018 1933 Act File No.

Form of Joinder Agreement to Agency Agreement, dated September 6, 2016, between the Registrant and DST Systems, Inc. (5)

Exhibit (k)(6) Exhibit (k)(6) FORM OF JOINDER AGREEMENT TO AGENCY AGREEMENT This Joinder Agreement, dated as of September 6, 2016 (this “Joinder”), by and among DST SYSTEMS, INC.

Information Classification: Limited Access

Exhibit (k)(3) Exhibit (k)(3) March 7, 2018 State Street Bank and Trust Company Channel Center, Mailstop CCB6E 1 Iron Street Boston, MA 02210 Attention: Brett Fernquist, Managing Director Re: NEXPOINT DISCOUNT YIELD FUND AND NEXPOINT REAL ESTATE STRATEGIES FUND (each a “Trust” and collectively, the “Trusts”) Ladies and Gentlemen: Please be advised that each Trust has been incorporated and registered as a management investment company under the Investment Company Act of 1940, as amended.

Distribution Plan for Class L Shares (5)

Exhibit (h)(5) Exhibit (h)(5) DISTRIBUTION PLAN Class L Shares of NexPoint Real Estate Strategies Fund DISTRIBUTION PLAN made as of April 30, 2018 for NexPoint Real Estate Strategies Fund (the “Fund”) on behalf of its Class L Shares.

NRESF / NEXPOINT REAL ESTATE STRATEGIES FUND CORRESP

SEC Response Letter Stradley Ronon Stevens & Young, LLP 100 Park Avenue, Suite 2000 New York, NY 10017 Telephone 212.

As filed with the Securities and Exchange Commission on March 1, 2018

Form 486APOS Table of Contents As filed with the Securities and Exchange Commission on March 1, 2018 1933 Act File No.

NEXPOINT REAL ESTATE STRATEGIES FUND POWER OF ATTORNEY

Exhibit (s)(2) Exhibit (s)(2) NEXPOINT REAL ESTATE STRATEGIES FUND POWER OF ATTORNEY NexPoint Real Estate Strategies Fund (the “Trust”) and the undersigned Trustee constitutes and appoints each of Brian Mitts, Frank Waterhouse and Clifford Stoops (with full power to each of them to act alone) his true and lawful attorney-in-fact and agent, for him and on his behalf and in his place and stead in an

Stradley Ronon Stevens & Young, LLP

SEC Letter Stradley Ronon Stevens & Young, LLP Suite 2000 100 Park Avenue New York, NY 10017 Telephone 212-812-4124 Fax 646.

Certification Pursuant to Rule 30a-2(a) under the 1940 Act and Section 302 of the Sarbanes-Oxley Act

EX-99.CERT 2 d490635dex99cert.htm CERTIFICATIONS EX-99.CERT Certification Pursuant to Rule 30a-2(a) under the 1940 Act and Section 302 of the Sarbanes-Oxley Act I, James Dondero, certify that: 1. I have reviewed this report on Form N-Q of NexPoint Real Estate Strategies Fund; 2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material

Nexpoint Real Estate Strategies Fund - FORM N-Q

Form N-Q UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM N-Q QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT INVESTMENT COMPANY Investment Company Act file number: 811-23129 NEXPOINT REAL ESTATE STRATEGIES FUND (Exact name of registrant as specified in charter) 200 Crescent Court Suite 700 Dallas, Texas 75201 (Address of principal executive offices)(Z

EX-24

JOINT FILING INFORMATION Reporting Person: SENTINEL REINSURANCE, LTD. Address: PO BOX 1093, BOUNDARY HALL CRICKET SQUARE, GRAND CAYMAN, KY1-1102 CAYMAN ISLANDS Designated Filer: SENTINEL REINSURANCE, LTD. Issuer and Symbol: NEXPOINT REAL ESTATE STRATEGIES FUND ("NRESF") Date of Event Requiring Statement: 8/11/2017 /s/ Andrew Dean, Director Signature: - Andrew Dean, Director Reporting Person: DEAN,

JOINT FILING AGREEMENT

EX-99.1 EXHIBIT 99.1 JOINT FILING AGREEMENT In accordance with Rule 13d-1(k) under the Securities Exchange Act of 1934, as amended, the undersigned agree to the joint filing on behalf of each of them of a Statement on Schedule 13D (including any and all amendments thereto) with respect to the Class Z Shares of Beneficial Interest of NexPoint Real Estate Strategies Fund, and further agree that this

NRESF / NEXPOINT REAL ESTATE STRATEGIES FUND / Sentinel Reinsurance, Ltd. - SC 13D Activist Investment

SC 13D SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 SCHEDULE 13D (Rule 13d-101) Under the Securities Exchange Act of 1934 NexPoint Real Estate Strategies Fund (Name of Issuer) Class Z Shares of Beneficial Interest (Title of Class of Securities) 65342M309 (CUSIP NUMBER) MAPLES FS PO BOX 1093, BOUNDARY HALL CRICKET SQUARE, GRAND CAYMAN, KY1-1102 CAYMAN ISLANDS (Name, Address and Telepho

NRESF / NEXPOINT REAL ESTATE STRATEGIES FUND / HIGHLAND CAPITAL MANAGEMENT LP - SC 13D/A Activist Investment

SC 13D/A SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 SCHEDULE 13D/A (Rule 13d-101) Under the Securities Exchange Act of 1934 (Amendment No. 2) NexPoint Real Estate Strategies Fund (Name of Issuer) Class Z Shares of Beneficial Interest (Title of Class of Securities) 65342M309 (CUSIP NUMBER) Jason Post, Chief Compliance Officer NexPoint Advisors, L.P. 300 Crescent Court, Suite 700 Dall

Nexpoint Real Estate Strategies Fund - FORM N-Q

Form N-Q UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM N-Q QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT INVESTMENT COMPANY Investment Company Act file number: 811-23129 NEXPOINT REAL ESTATE STRATEGIES FUND (Exact name of registrant as specified in charter) 200 Crescent Court Suite 700 Dallas, Texas 75201 (Address of principal executive offices)(Z

Certification Pursuant to Rule 30a-2(a) under the 1940 Act and Section 302 of the Sarbanes-Oxley Act

Certifications EX-99.CERT Certification Pursuant to Rule 30a-2(a) under the 1940 Act and Section 302 of the Sarbanes-Oxley Act I, James Dondero, certify that: 1. I have reviewed this report on Form N-Q of NexPoint Real Estate Strategies Fund; 2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the stateme

FORM OF JOINDER AGREEMENT TO AGENCY AGREEMENT

Exhibit (k)(6) FORM OF JOINDER AGREEMENT TO AGENCY AGREEMENT This Joinder Agreement, dated as of September 6, 2016 (this “Joinder”), by and among DST SYSTEMS, INC.

Consent of Independent Registered Public Accounting Firm

Exhibit (n) Exhibit (n) Consent of Independent Registered Public Accounting Firm The Board of Trustees and Shareholders NexPoint Real Estate Strategies Fund: We consent to the use of our report, dated February 27, 2017, with respect to the financial statements of NexPoint Real Estate Strategies Fund, incorporated herein by reference.

Information Classification: Limited Access

Exhibit (k)(3) June 7, 2016 State Street Bank and Trust Company Channel Center, Mailstop CCB0502 1 Iron Street Boston, MA 02210 Attention: Thomas P.

Information Classification: Limited Access

Exhibit (j)(2) Exhibit (j)(2) June 7th, 2016 State Street Bank and Trust Company Channel Center, Mailstop CCB0502 1 Iron Street Boston, MA 02210 Attention: Thomas P.

Subscription Agreement dated June 9, 2016, between the Registrant and NexPoint Advisors, L.P. (4)

Exhibit (p)(2) SUBSCRIPTION AGREEMENT June 9, 2016 NexPoint Real Estate Strategies Fund 300 Crescent Court, Suite 700 Dallas, Texas 75201 Ladies and Gentlemen: The undersigned subscribes for and agrees to purchase, in the amounts and for the consideration indicated below, Class Z Shares of Beneficial Interest (the “Shares”) of NexPoint Real Estate Strategies Fund, a Delaware statutory trust (the “Fund”).

CONSENT OF COUNSEL

EX-99.(L) 8 d361007dex99l.htm EXHIBIT (L) Exhibit (l) CONSENT OF COUNSEL We hereby consent to the use of our name and the references to our firm under the caption “Legal Counsel” included in or made a part of Post-Effective Amendment No. 4 to the Registration Statement of NexPoint Real Estate Strategies Fund (File No. 333-209022), on Form N-2 under the Securities Act of 1933, as amended. /s/ Ropes

Agency Agreement, dated August 5, 2014, between the Registrant and DST Systems, Inc. (4)

Exhibit (k)(4) Exhibit (k)(4) AGENCY AGREEMENT THIS AGREEMENT made the 5th day of Aug.

As filed with the Securities and Exchange Commission on April 28, 2017

Form 486BPOS Table of Contents As filed with the Securities and Exchange Commission on April 28, 2017 1933 Act File No.

Code of Ethics of the NexPoint Securities, Inc. (formerly, Highland Capital Funds Distributor, Inc.) (4)

Exhibit (r)(3) Exhibit (r)(3) Highland Capital Funds Distributors, Inc.’s (“Company”) Written Supervisory Procedures (“WSPs”) along with its Code of Ethics and Standards of Professional Conduct (“Code and Standards”) are essential to achieving high standards of business conduct, integrity and professional excellence. The WSPs and the Code and Standards have been developed in conjunction with Rules

Code of Ethics of the Registrant (4)

Exhibit (r)(1) CODE OF ETHICS of Highland Funds I, Highland Funds II, NexPoint Credit Strategies Fund, NexPoint Real Estate Strategies Fund, NexPoint Opportunistic Credit Fund and NexPoint Capital, Inc.

Subscription Agreement dated April 19, 2016, between the Registrant and NexPoint Advisors, L.P. (4)

Exhibit (p)(1) Exhibit (p)(1) SUBSCRIPTION AGREEMENT April 19, 2016 NexPoint Real Estate Strategies Fund 300 Crescent Court, Suite 700 Dallas, Texas 75201 Ladies and Gentlemen: The undersigned subscribes for and agrees to purchase, in the amounts and for the consideration indicated below, Class Z Shares of Beneficial Interest (the “Shares”) of NexPoint Real Estate Strategies Fund, a Delaware statutory trust (the “Fund”).

Form of Shareholder Servicing Plan and Agreement (4)

EX-99.(H)(3) 2 d361007dex99h3.htm EXHIBIT (H)(3) Exhibit (h)(3) SHAREHOLDER SERVICING PLAN AND AGREEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940 This plan constitutes the Shareholder Servicing Plan and Agreement (the “Plan”) for NexPoint Real Estate Strategies Fund (the “Fund”). The Plan relates solely to the Fund, may be amended from time to time, and supersedes and replaces any prior shareholde

Code of Ethics of NexPoint Advisors, L.P. (4)

Exhibit (r)(2) Exhibit (r)(2) CODE OF ETHICS POLICY Purpose and Scope The purpose of the Code of Ethics Policy (“the Policy”) is to implement a policy of strict compliance with the highest standards of ethical business conduct and the provisions of applicable federal securities laws, including rules and regulations promulgated by the SEC.

NEXPOINT REAL ESTATE STRATEGIES FUND POWER OF ATTORNEY

Exhibit (s) Exhibit (s) NEXPOINT REAL ESTATE STRATEGIES FUND POWER OF ATTORNEY NexPoint Real Estate Strategies Fund (the “Trust”) and the undersigned Trustee constitutes and appoints each of James Dondero, Brian Mitts and Frank Waterhouse (with full power to each of them to act alone) his true and lawful attorney-in-fact and agent, for him and on his behalf and in his place and stead in any and al

Amendment No. 1 to Agency Agreement, dated June 10, 2016, between the Registrant and DST Systems, Inc. (4)

Exhibit (k)(5) Exhibit (k)(5) AMENDMENT NO. 1 TO THE AGENCY AGREEMENT BETWEEN NEXPOINT CAPITAL, INC. AND DST SYSTEMS, INC. THIS AMENDMENT NO. 1 (the “Amendment”) to the AGENCY AGREEMENT is executed on June 10, 2016 (the “Effective Date”) by and between DST SYSTEMS, INC., a Delaware corporation with offices at 333 West 11th Street, 5th Floor, Kansas City, Missouri 64105 (“DST”), and NEXPOINT CAPITA

NEXPOINT REAL ESTATE STRATEGIES FUND FORM N-Q (Quarterly Schedule of Portfolio Holdings)

Form N-Q UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM N-Q QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT INVESTMENT COMPANY Investment Company Act file number: 811-23129 NEXPOINT REAL ESTATE STRATEGIES FUND (Exact name of registrant as specified in charter) 200 Crescent Court Suite 700 Dallas, Texas 75201 (Address of principal executive offices)(Z

Certification Pursuant to Rule 30a-2(a) under the 1940 Act and Section 302 of the Sarbanes-Oxley Act

Certifications EX-99.CERT Certification Pursuant to Rule 30a-2(a) under the 1940 Act and Section 302 of the Sarbanes-Oxley Act I, James Dondero, certify that: 1. I have reviewed this report on Form N-Q of NexPoint Real Estate Strategies Fund; 2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the stateme

NRESF / NEXPOINT REAL ESTATE STRATEGIES FUND / HIGHLAND CAPITAL MANAGEMENT LP - SC 13D/A Activist Investment

SC 13D/A SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 SCHEDULE 13D/A (Amendment No. 1) (Rule 13d-101) Under the Securities Exchange Act of 1934 NexPoint Real Estate Strategies Fund (Name of Issuer) Class Z Shares of Beneficial Interest (Title of Class of Securities) 65342M309 (CUSIP NUMBER) Jason Post, Chief Compliance Officer NexPoint Advisors, L.P. 300 Crescent Court, Suite 700 Dall

Advisory Agreement for REIT Subsidiary (3)

Exhibit (g)(3) Exhibit (g)(3) ADVISORY AGREEMENT BY AND BETWEEN NRESF REIT SUB, LLC AND NEXPOINT ADVISORS, L.

NEXPOINT REAL ESTATE STRATEGIES FUND POST-EFFECTIVE AMENDMENT NO 2 ADDING EXHIBITS TO REGISTRATION STATEMENT

Post-effective amendment No 2 adding exhibits to registration statement As filed with the Securities and Exchange Commission on August 22, 2016.

Advisory Agreement for REIT Subsidiary (3)

Exhibit (g)(3) Exhibit (g)(3) ADVISORY AGREEMENT BY AND BETWEEN NRESF REIT SUB, LLC AND NEXPOINT ADVISORS, L.

AMENDED AND RESTATED EXPENSE LIMITATION AND REIMBURSEMENT AGREEMENT NEXPOINT REAL ESTATE STRATEGIES FUND

Exhibit (k)(1) Exhibit (k)(1) AMENDED AND RESTATED EXPENSE LIMITATION AND REIMBURSEMENT AGREEMENT NEXPOINT REAL ESTATE STRATEGIES FUND THIS AGREEMENT is hereby made as of the 22nd day of August 2016 (this ?Agreement?) between NexPoint Real Estate Strategies Fund, a Delaware statutory trust (the ?Trust?), and NexPoint Advisors, L.

NEXPOINT REAL ESTATE STRATEGIES FUND POST-EFFECTIVE AMENDMENT NO 2 ADDING EXHIBITS TO REGISTRATION STATEMENT

Post-effective amendment No 2 adding exhibits to registration statement As filed with the Securities and Exchange Commission on August 22, 2016.

AMENDED AND RESTATED EXPENSE LIMITATION AND REIMBURSEMENT AGREEMENT NEXPOINT REAL ESTATE STRATEGIES FUND

Exhibit (k)(1) Exhibit (k)(1) AMENDED AND RESTATED EXPENSE LIMITATION AND REIMBURSEMENT AGREEMENT NEXPOINT REAL ESTATE STRATEGIES FUND THIS AGREEMENT is hereby made as of the 22nd day of August 2016 (this ?Agreement?) between NexPoint Real Estate Strategies Fund, a Delaware statutory trust (the ?Trust?), and NexPoint Advisors, L.

NRESF / NEXPOINT REAL ESTATE STRATEGIES FUND / HIGHLAND CAPITAL MANAGEMENT LP - SC 13D Activist Investment

SC 13D 1 d242271dsc13d.htm SC 13D SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 SCHEDULE 13D (Rule 13d-101) Under the Securities Exchange Act of 1934 NexPoint Real Estate Strategies Fund (Name of Issuer) Class C Shares of Beneficial Interest (Title of Class of Securities) 65342M200 (CUSIP NUMBER) Jason Post, Chief Compliance Officer NexPoint Advisors, L.P. 300 Crescent Court, Suite 700

JOINT FILING AGREEMENT

EX-99.1 EXHIBIT 99.1 JOINT FILING AGREEMENT In accordance with Rule 13d-1(k) under the Securities Exchange Act of 1934, as amended, the undersigned agree to the joint filing on behalf of each of them of a Statement on Schedule 13D (including any and all amendments thereto) with respect to the Class C Shares of Beneficial Interest of NexPoint Real Estate Strategies Fund, and further agree that this

JOINT FILING AGREEMENT

EX-99.1 EXHIBIT 99.1 JOINT FILING AGREEMENT In accordance with Rule 13d-1(k) under the Securities Exchange Act of 1934, as amended, the undersigned agree to the joint filing on behalf of each of them of a Statement on Schedule 13D (including any and all amendments thereto) with respect to the Class A Shares of Beneficial Interest of NexPoint Real Estate Strategies Fund, and further agree that this

NRESF / NEXPOINT REAL ESTATE STRATEGIES FUND / HIGHLAND CAPITAL MANAGEMENT LP - SC 13D Activist Investment

SC 13D SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 SCHEDULE 13D (Rule 13d-101) Under the Securities Exchange Act of 1934 NexPoint Real Estate Strategies Fund (Name of Issuer) Class A Shares of Beneficial Interest (Title of Class of Securities) 65342M101 (CUSIP NUMBER) Jason Post, Chief Compliance Officer NexPoint Advisors, L.P. 300 Crescent Court, Suite 700 Dallas, Texas 75201 (Name,

NRESF / NEXPOINT REAL ESTATE STRATEGIES FUND / HIGHLAND CAPITAL MANAGEMENT LP - SC 13D Activist Investment

SC 13D SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 SCHEDULE 13D (Rule 13d-101) Under the Securities Exchange Act of 1934 NexPoint Real Estate Strategies Fund (Name of Issuer) Class A Shares of Beneficial Interest (Title of Class of Securities) 65342M101 (CUSIP NUMBER) Jason Post, Chief Compliance Officer NexPoint Advisors, L.P. 300 Crescent Court, Suite 700 Dallas, Texas 75201 (Name,

NRESF / NEXPOINT REAL ESTATE STRATEGIES FUND / HIGHLAND CAPITAL MANAGEMENT LP - SC 13D Activist Investment

SC 13D 1 d242271dsc13d.htm SC 13D SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 SCHEDULE 13D (Rule 13d-101) Under the Securities Exchange Act of 1934 NexPoint Real Estate Strategies Fund (Name of Issuer) Class C Shares of Beneficial Interest (Title of Class of Securities) 65342M200 (CUSIP NUMBER) Jason Post, Chief Compliance Officer NexPoint Advisors, L.P. 300 Crescent Court, Suite 700

JOINT FILING AGREEMENT

EX-99.1 EXHIBIT 99.1 JOINT FILING AGREEMENT In accordance with Rule 13d-1(k) under the Securities Exchange Act of 1934, as amended, the undersigned agree to the joint filing on behalf of each of them of a Statement on Schedule 13D (including any and all amendments thereto) with respect to the Class Z Shares of Beneficial Interest of NexPoint Real Estate Strategies Fund, and further agree that this

NRESF / NEXPOINT REAL ESTATE STRATEGIES FUND / HIGHLAND CAPITAL MANAGEMENT LP - SC 13D Activist Investment

SC 13D SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 SCHEDULE 13D (Rule 13d-101) Under the Securities Exchange Act of 1934 NexPoint Real Estate Strategies Fund (Name of Issuer) Class Z Shares of Beneficial Interest (Title of Class of Securities) 65342M309 (CUSIP NUMBER) Jason Post, Chief Compliance Officer NexPoint Advisors, L.P. 300 Crescent Court, Suite 700 Dallas, Texas 75201 (Name,

JOINT FILING AGREEMENT

EX-99.1 EXHIBIT 99.1 JOINT FILING AGREEMENT In accordance with Rule 13d-1(k) under the Securities Exchange Act of 1934, as amended, the undersigned agree to the joint filing on behalf of each of them of a Statement on Schedule 13D (including any and all amendments thereto) with respect to the Class Z Shares of Beneficial Interest of NexPoint Real Estate Strategies Fund, and further agree that this

JOINT FILING AGREEMENT

EX-99.1 EXHIBIT 99.1 JOINT FILING AGREEMENT In accordance with Rule 13d-1(k) under the Securities Exchange Act of 1934, as amended, the undersigned agree to the joint filing on behalf of each of them of a Statement on Schedule 13D (including any and all amendments thereto) with respect to the Class Z Shares of Beneficial Interest of NexPoint Real Estate Strategies Fund, and further agree that this

NRESF / NEXPOINT REAL ESTATE STRATEGIES FUND / Twentysix Investment Trust - SC 13D Activist Investment

SC 13D SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 SCHEDULE 13D (Rule 13d-101) Under the Securities Exchange Act of 1934 NexPoint Real Estate Strategies Fund (Name of Issuer) Class Z Shares of Beneficial Interest (Title of Class of Securities) 65342M309 (CUSIP NUMBER) Thomas Surgent, Chief Compliance Officer Highland Capital Management, L.P. 300 Crescent Court, Suite 700 Dallas, Texa

EX-99.1

JOINT FILING INFORMATION Reporting Person: THE TWENTYSIX INVESTMENT TRUST Address: 300 CRESCENT COURT, SUITE 700 DALLAS, TEXAS 75201 Designated Filer: THE TWENTYSIX INVESTMENT TRUST Issuer and Symbol: NEXPOINT REAL ESTATE STRATEGIES FUND ("NRESF") Date of Event Requiring Statement: 8/3/2016 /s/ Matt McGraner, Trustee Signature: - Matt McGraner, Trustee Reporting Person: MCGRANER, MATT Address: 300

EX-99.1

JOINT FILING INFORMATION Reporting Person: THE DUGABOY INVESTMENT TRUST Address: 300 CRESCENT COURT, SUITE 700 DALLAS, TEXAS 75201 Designated Filer: THE DUGABOY INVESTMENT TRUST Issuer and Symbol: NEXPOINT CREDIT STRATEGIES FUND ("NHF") Date of Event Requiring Statement: 8/3/2016 /s/ Nancy Marie Dondero, Trustee Signature: - Nancy Marie Dondero, Trustee Reporting Person: DONDERO, NANCY MARIE Addre

FORM OF ADVISORY AGREEMENT BY AND AMONG [NEXPOINT REIT SUB], [NEXPOINT REIT SUB OP] NEXPOINT ADVISORS, L.P. TABLE OF CONTENTS Page 1. Definitions 1 2. Appointment 3 3. Duties of the Advisor 3 4. Authority of Advisor 5 5. No Partnership or Joint Ventu

Exhibit (g)(2) Exhibit (g)(2) FORM OF ADVISORY AGREEMENT BY AND AMONG [NEXPOINT REIT SUB], [NEXPOINT REIT SUB OP] AND NEXPOINT ADVISORS, L.

NEXPOINT REAL ESTATE STRATEGIES FUND POST EFFECTIVE AMENDMENT NO 1 TO FORM N-2

Post Effective Amendment No 1 to Form N-2 As filed with the Securities and Exchange Commission on July 8, 2016.

NEXPOINT REAL ESTATE STRATEGIES FUND ESP

SEC Response Letter Owen J. Pinkerton 202-216-4812 [email protected] www.mmmlaw.com July 1, 2016 VIA EDGAR Dominic Minore, Esq. Senior Counsel Securities and Exchange Commission 100 F Street, NE Washington, DC 20549 Re: NexPoint Real Estate Strategies Fund (the “Fund”) Registration Statement on Form N-2 File Nos. 333-209022; 811-23129 Dear Mr. Minore: On behalf of NexPoint Real Estate Strategi

NEXPOINT REAL ESTATE STRATEGIES FUND ESP

SEC Response Letter June 30, 2016 Owen J. Pinkerton 202-216-4812 [email protected] www.mmmlaw.com VIA EDGAR Dominic Minore, Esq. Senior Counsel Securities and Exchange Commission 100 F Street, NE Washington, DC 20549 Re: NexPoint Real Estate Strategies Fund (the “Fund”) Pre-Effective Amendment No. 2 to Registration Statement on Form N-2 File Nos. 333-209022; 811-23129 Dear Mr. Minore: On behal

NEXPOINT REAL ESTATE STRATEGIES FUND ESP

June 30, 2016 Owen J. Pinkerton 202-216-4812 [email protected] www.mmmlaw.com VIA EDGAR Dominic Minore, Esq. Senior Counsel Securities and Exchange Commission 100 F Street, NE Washington, DC 20549 Re: NexPoint Real Estate Strategies Fund (the “Fund”) Registration Statement on Form N-2 File Nos. 333-209022; 811-23129 Dear Mr. Minore: On behalf of NexPoint Real Estate Strategies Fund (the “Fund”

NEXPOINT REAL ESTATE STRATEGIES FUND ESP

CORRESP 1 filename1.htm June 30, 2016 Owen J. Pinkerton 202-216-4812 [email protected] www.mmmlaw.com VIA EDGAR Securities and Exchange Commission Main Filing Desk 100 F Street, N.E. Washington, D.C. 20002 Re: NexPoint Real Estate Strategies Fund Request for Acceleration File Nos. 333-209022; 811-23129 Ladies and Gentlemen: On behalf of NexPoint Real Estate Strategies Fund (the “Fund”), enclos

NEXPOINT REAL ESTATE STRATEGIES FUND ESP

Highland Capital Funds Distributor, Inc. 200 Crescent Court, Suite 700 Dallas, Texas 75201 June 30, 2016 VIA EDGAR Securities and Exchange Commission Main Filing Desk 100 F Street, N.E. Washington, D.C. 20002 Re: NexPoint Real Estate Strategies Fund Request for Acceleration File Nos. 333-209022; 811-23129 Ladies and Gentlemen: Acting as principal distributor to NexPoint Real Estate Strategies Fund

NEXPOINT REAL ESTATE STRATEGIES FUND ESP

SEC Response Letter June 27, 2016 Owen J. Pinkerton 202-216-4812 [email protected] www.mmmlaw.com VIA EDGAR Dominic Minore, Esq. Senior Counsel Securities and Exchange Commission 100 F Street, NE Washington, DC 20549 Re: NexPoint Real Estate Strategies Fund (the “Fund”) Pre-Effective Amendment No. 2 to Registration Statement on Form N-2 File Nos. 333-209022; 811-23129 Dear Mr. Minore: On behal

NEXPOINT REAL ESTATE STRATEGIES FUND ESP

Preliminary SEC Response Letter May , 2016 VIA EDGAR Dominic Minore, Esq. Senior Counsel Securities and Exchange Commission 100 F Street, NE Washington, DC 20549 Owen J. Pinkerton 202-216-4812 [email protected] www.mmmlaw.com Re: NexPoint Real Estate Strategies Fund (the “Fund”) Pre-Effective Amendment No. 2 to Registration Statement on Form N-2 File Nos. 333-2090022; 811-23129 Dear Mr. Minore

NEXPOINT REAL ESTATE STRATEGIES FUND ESP

April 22, 2016 Owen J. Pinkerton 202-216-4812 [email protected] www.mmmlaw.com VIA EDGAR Dominic Minore, Esq. Senior Counsel Securities and Exchange Commission 100 F Street, NE Washington, DC 20549 Re: NexPoint Real Estate Strategies Fund (the “Fund”) Pre-Effective Amendment No. 1 to Registration Statement on Form N-2 File Nos. 333-2090022; 811-23129 Dear Mr. Minore: On behalf of NexPoint Real

NEXPOINT REAL ESTATE STRATEGIES FUND DELAYING AMENDMENT

March 9, 2016 VIA EDGAR Dominic Minore, Esq. U.S. Securities and Exchange Commission 100 F Street, NE Washington, DC 20549 Re: NexPoint Real Estate Strategies Fund (the ?Fund?) Registration Statement on Form N-2 File Nos. 333-209022; 811-23129 Dear Mr. Minore: Please accept this letter as an amendment to the Registration Statement on Form N-2 (File No. 333-209022) filed with the Securities and Exc

NEXPOINT REAL ESTATE STRATEGIES FUND ESP

[Letterhead of Morris, Manning & Martin, LLP] March 1, 2016 Owen J. Pinkerton 202-216-4812 [email protected] www.mmmlaw.com VIA EDGAR Dominic Minore, Esq. Senior Counsel Securities and Exchange Commission 100 F Street, NE Washington, DC 20549 Re: NexPoint Real Estate Strategies Fund (the “Fund”) Registration Statement on Form N-2 File Nos. 333-2090022; 811-23129 Dear Mr. Minore: On behalf of N

NEXPOINT REAL ESTATE STRATEGIES FUND FORM N-8A

Form N-8A UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM N-8A NOTIFICATION OF REGISTRATION FILED PURSUANT TO SECTION 8(a) OF THE INVESTMENT COMPANY ACT OF 1940 The undersigned investment company hereby notifies the Securities and Exchange Commission that it registers under and pursuant to the provisions of Section 8(a) of the Investment Company Act of 1940, and in con