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VineBrook Homes Announces Acquisition Of 951 Home Portfolio

DALLAS, Nov. 19, 2019 /PRNewswire/ -- VineBrook Homes Trust, Inc. ("VineBrook") announced the acquisition (the "Acquisition") of 951 single family rental homes in September. The portfolio expands VineBrook's existing footprint in Cincinnati, OH; Columbus, OH; Indianapolis, IN; Kansas City, MO; Memphis, TN; and Saint Louis, MO; while simultaneously launching expansion into markets including Omaha, NE; Pittsburgh, PA; Louisville, KY; Little Rock, AR; and Jackson, MS. The homes were purchased from a respected and unaffiliated third party owner and operator focused on the workforce segment of single family rental homes. 

"We are excited to complete this transaction which increases our scale and density in key markets and also facilitates expansion into new markets where we see compelling opportunity and value.  Single family rental assets continue to demonstrate strong fundamentals and the marketplace presents consolidation opportunities for well capitalized and disciplined operators.  Our structure and platform position us well to continue growing via single property and portfolio transactions," said Dana Sprong, Co-Founder and Managing Partner of VineBrook Homes, LLC.

The Acquisition is a continuation of VineBrook's strategy of aggregating, re-positioning and operating quality single family rental assets in secondary and tertiary markets that offer high current yields and NOI growth at acquisition prices representing strong discounts to replacement cost. VineBrook has an 11-year track record of successfully executing this strategy.

"Given the significant overlap in these assets' markets, locations, vintage and resident base as VineBrook's portfolio, we are excited to transition management responsibilities as we on-board these homes and welcome our new residents," said Ryan McGarry, Managing Partner & COO of VineBrook Homes, LLC.  "VineBrook Homes' operating infrastructure comprised of a strong and growing team of nearly 200 property management and real estate professionals, robust and well-defined workflows, and highly transparent technological platform utilizing automation and real-time visibility, provides great confidence in our ability to efficiently manage workforce assets at scale to produce superior NOI margins."


VineBrook Homes, Inc. is a non-traded real estate investment trust focused on acquiring, renovating, maintaining, and operating affordable single family rental homes. As of September 30, 2019, after factoring in the Acquisition, VineBrook's portfolio consisted of approximately 6,500 single family homes in 12 markets.  The Company is managed by VineBrook Homes, LLC and is advised by NexPoint Real Estate Advisors V, L.P.


NexPoint is a leading alternative investment platform. The NexPoint platform is comprised investment advisers NexPoint Advisors, L.P. and NexPoint Real Estate Advisors, L.P., a member Finra/SIPC broker dealer, NexPoint Securities, Inc., and a suite of related investment vehicles. The platform provides differentiated access to alternatives through a range of investment offerings, including publicly traded real estate investment trusts (REITs), Regulation D private placements, 1031 exchanges, closed-end funds, interval funds, and a business development company (BDC). NexPoint is based in Dallas, Texas.


The information in this presentation contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995.  These statements can be identified by the fact that they do not relate strictly to historical or current facts.  Forward-looking statements often include words such as "anticipates," "estimates," "expects," "projects," "intends," "plans," "believes" and words and terms of similar substance in connection with discussions of future operating or financial performance.                                       

These forward-looking statements are based on our current expectations and assumptions regarding the fund's portfolio and performance, the economy and other future conditions and forecasts of future events, circumstances and results.  As with any projection or forecast, they are inherently susceptible to uncertainty and changes in circumstances.  The fund's actual results may vary materially from those expressed or implied in its forward-looking statements."

Jackie Graham
Investor Relations


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