DST 1031 EXCHANGE

NexPoint Small Bay III DST

Offering Snapshot

This Offering presents a portfolio of two small bay industrial properties located in the Miami-Fort Lauderdale-West Palm Beach metropolitan statistical area (the “Miami MSA”) and Dallas-Fort Worth metropolitan statistical area (the “DFW MSA”). We believe that small bay industrial, or light-industrial, properties offer several advantages including but not limited to a concentrated tenant base with long-term leases, are typically located in more densely-populated infill areas, and benefit from higher barriers to entry and replacement costs. Leases for these properties are generally shorter in term, allowing rents to adjust more quickly in response to market shifts and evolving demand. These leases often include annual contractual rent increases, supporting consistent rent growth throughout the lease term.

Acquisition Details

Total Acquisition Cost¹

$86,671,730

Lender Reserves²

$6,467,631

Total Capitalization

$91,382,493

Trust Highlights

Offering Size

$50,382,493

Minimum Purchase cash/1031

$100,000

Suitability

Accredited Investors Only

Loan Information

Total Loan Amount

$41,000,000

Loan to Capitalization³

44.9%

Interest Rate

5.708% Fixed Rate

Loan Term

Interest Only for Full Term

1. The Total Acquisition Cost includes the purchase price of the Properties and Other Closing Costs.

2. Lender Reserves refers to the Capital Expense/Rollover Reserve, Imposition Reserve, Required Repairs Reserve, and Free and prepaid Rent Reserve.

3. The loan-to-capitalization ratio (“LTC”) is the ratio of a loan to the capitalization of an asset purchased. For instance, if someone borrows $80,000 to purchase a property worth $100,000, the LTC ratio is $80,000 to $100,000 or $80,000/$100,00, or 80%.

Please review the entire PPM prior to investing. This material does not constitute an offer to sell. Reference is made to the PPM for a statement of risks and terms of the Offering. The information set forth herein is qualified in its entirety by the PPM. All potential Purchasers must read the PPM and no person may invest without acknowledging the receipt and complete review of the PPM.

Arapaho Business Park
Richardson, Texas 75081

The Arapaho Property is located in the DFW MSA, one of the nation’s fastest-growing MSAs. Spanning across roughly 8,675 square miles, the DFW MSA ranks 4th in most populous MSAs and leads Texas in population growth, median household income and job creation¹. As the population grows, demand for commercial real estate – particularly industrial properties – continues to be on the rise. With a diverse and stable employment base, the market is well-positioned for continued growth.

Arapaho Business Park consists of 19 buildings on over 31 acres. The Property consists of 407,669 SF of rentable spaces which, as of August 31, 2025, is over 90% occupied. Arapaho Business Park features clear heights between 12’ and 16’, premium location of Highway 75, and multiple buildings with several points of entry for easy access.

Clear Heights 12′-16′
Parking Spaces 1,552
Years Built 1976-1980
Total Acres 31.55
Total Rentable SF 407,669
AVG. Rent/SQFT² $12.73
Occupancy² 92.1%
Weighted Avg. Lease Term² 1.50 YRS

1. Esri 2024. Compiled by Partner Valuation Advisors. 2. As of August 31, 2025.

Deerfield
Deerfield Beach, Florida 33073

The Deerfield property is located in the Miami MSA, a region known for its dynamic economy and diverse population. Covering about 6,137 square miles, the Miami MSA ranks among the top 10 most populous MSAs in the U.S¹. Thanks to steady population growth and rising income and education levels, the area’s economy continues to strengthen. As the local economy expands and employment opportunities grow, demand for real estate – particularly Small Bay Properties – is projected to remain strong.

The Deerfield Property offers 102,245 rentable square feet of flex and multi-tenant industrial space across seven buildings. The Property features rear-entry loading with grade-level rollup doors and suite clearance heights between 15’ to 22’. The Deerfield Property is located just 15 miles from downtown Ft. Lauderdale.

Clear Heights 15′ – 22′
Parking Spaces 357
Years Built² 1987-1988
Total Acres 8.25
Total Rentable SF 102,245
AVG. Rent/SQFT2 $15.96/SF
Occupancy³ 95.0%
Weighted Avg. Lease Term2 2.85 YRS

1. Esri 2024. Compiled by Partner Valuation Advisors. 2. Two of the buildings were built in 2017, and all of the buildings have gone through significant renovations in 2024-2025. 3. As of August 31, 2025.

Small Bay Industrial SECTOR GROWTH

An Asset Class for an Underserved, Diversified Tenant Base

Small Bay Properties are often referred to as multi-tenant warehousing or light industrial properties. Roughly 20% of a Small Bay Property is used as an office, and the other 80% is used as a warehouse. The tenants of Small Bay Properties range from small “mom-and-pop” businesses in local distribution, construction, light industrial, and service industries to Fortune 500 companies. The average Small Bay Property floor plan is 2,500 square feet.

This sector is driven by strong demand due to:

Undervalued Asset Class
Limited Institutional Competition
Superior Locations
Continued Mark-to-Market Opportunities
Diversified Tenant Base
Highly Fragmented
High Barriers to Entry and Replacement Costs
Strong Leasing Momentum

Matt McGraner

Chief Investment Officer

Matthew McGraner is a member of the investment committee for the Sponsor and serves in numerous roles across the NexPoint platform. With over ten years of real estate, private equity, and legal experience, his primary responsibilities are to lead the strategic direction and operations of the real estate platform at NexPoint. McGraner has led the acquisition and financing of approximately $18.4 billion of real estate investments.

Paul Richards

Chief Financial Officer

Paul Richards is Chief Financial Officer at NexPoint Real Estate Advisors, L.P. and serves in numerous roles across the NexPoint platform including leading the financial reporting and accounting teams. He oversees research and conducts due diligence on new investment ideas, performs valuation and benchmark analysis, monitors and manages investments in NexPoint real estate portfolios, and provides industry support to the NexPoint real estate team.

D.C. Sauter

General Counsel

D.C. Sauter is General Counsel for Real Estate for NexPoint Advisors, L.P. Prior to joining NexPoint, he was a partner with Wick Phillips Gould & Martin, LLP, where his practice focused on all aspects of commercial real estate, including acquisitions, dispositions, entitlements, construction, financing, and leasing of industrial, office, retail, hotel, and multifamily assets. In addition to transactional matters, Sauter has significant experience in complex commercial disputes, foreclosures, and workouts.

Additional Resources

Real Estate Track Record

In Total Gross Real Estate Acquisitions¹

$ 0 B

In Real Estate Transactions in the Last 12 Months²

$ 0 M

Real Estate Acquisitions Since Inception

1. Real estate assets as of 12/31/2025, inclusive of affiliates.

2. Real estate assets acquired from January 1, 2012, to December 31, 2025, inclusive of affiliates.

Small Bay, Big Impact: Unveiling the Untapped Potential of Compact Industrial Real Estate

Today, Small Bay Industrial real estate properties continue to play a vital role in supporting a wide range of businesses, from light manufacturing and logistics to creative industries and technology startups.

Connect with our team today

Any investment in NexPoint Oasis DST, a Delaware Statutory Trust (“DST”), is highly speculative, illiquid, and involves a high degree of risk, including the potential loss of your entire investment. The photos in this brochure are of the actual Property in this Offering and the Orlando MSA. There are substantial risks in any investment program. This is not an offer to sell securities or a solicitation of an offer to buy securities.

An offer to sell interests (“Interests”) in NexPoint Oasis DST (the “Trust”) may be made only pursuant to the PPM, which is available upon request. Distributions are not guaranteed. Please review the entire PPM prior to investing. Reference is made to the PPM for a statement of risks and terms of the Offering. The information set forth herein is qualified in its entirety by the PPM. All potential investors must read the PPM and no person may invest without acknowledging receipt and complete review of the PPM. The offering of Interests (the “Offering”) is being made by means of the PPM only to accredited investors who meet minimum accreditation requirements, as well as suitability standards as determined by a qualified broker-dealer or investment advisor. The contents of this communication may not be relied upon in making an investment decision related to this Offering. All prospective investors must read the PPM, including the “Risk Factors” section, any discussion of fees and expenses, and other pertinent information prior to investing. These investment opportunities have not been registered under the Securities Act of 1933 and are being offered pursuant to an exemption therefrom and from applicable state securities laws.

An investment in an Interest is highly speculative and involves substantial risks including, but not limited to:

this is a “best-efforts” offering with no minimum raise or minimum escrow requirements;
• the lack of liquidity and/or a public market of the Interests;
• the holding of a beneficial interest in the Trust with no voting rights with respect to the management or operations of the Trust or in connection with the sale of the Property;
• risks associated with owning, financing, operating and leasing a multifamily apartment complex and real estate generally in the Orlando–Kissimmee-Sanford, Florida Metropolitan Statistical Area (the “Orlando MSA”);
• the Property is located in a “Hurricane Susceptible Region,” which increases the risk of damage to the Property;
• risks associated with the Exchange Right;
• risks associated with general market fluctuations such as recessions (global or local), the impact of pandemics (including the COVID-19 pandemic), and other systemic market or economic fluctuations of the communities in which the Property exists;
• the Trust depends on the Master Tenant for revenue, and the Master Tenant depends on the end-user tenants for revenue and thus any default by the Master Tenant or the end-user tenants will adversely affect the Trust’s operations;
• performance of the Master Tenant under the Master Lease, including the potential for the Master Tenant to defer a portion of rent payable under the Master Lease;
• reliance on the Master Tenant and the Property Manager engaged by the Master Tenant, to manage the Property;
• risks associated with the Sponsor funding the Demand Note that capitalizes the Master Tenant;
• risks relating to the terms of the financing for the Property, including the use of leverage;
• lack of diversity of investment;
• the existence of various conflicts of interest among the Sponsor, the Trust, the Master Tenant, the Property Manager, and their affiliates;
• material tax risks, including treatment of the Interests for purposes of Code Section 1031 and the use of exchange funds to pay acquisition costs, which may result in taxable boot;
• the Interests not being registered with the Securities and Exchange Commission (the “SEC”) or any state securities commissions;
• risks relating to the costs of compliance with laws, rules and regulations applicable to the Property;
• risks related to competition from properties similar to and near the Property; and
• the possibility of environmental risks related to the Property.

NexPoint Securities, Inc., an entity under common control with the Sponsor, serves as the Managing Broker-Dealer of the Offering. The Managing Broker-Dealer was formed in November 2013 and is registered as a broker-dealer with the SEC and is a member of FINRA/SIPC.

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