The single-family rental REIT drew an initial $5 million from the new credit line, which carries a 9.25% interest rate and matures in 2028.

March 6, 2026

VineBrook Homes Secures $15 Million Revolving Credit Facility

The single-family rental REIT drew an initial $5 million from the new credit line, which carries a 9.25% interest rate and matures in 2028.

VineBrook Homes Trust, Inc., a Dallas-based single-family rental real estate investment trust, has entered into a secured revolving credit agreement providing up to $15 million in borrowing capacity through its operating partnership.

The agreement, executed on February 26, 2026, was arranged with The Ohio State Life Insurance Company serving as administrative agent, sole lead arranger, and sole bookrunner. VineBrook immediately drew $5 million from the facility upon closing.

Key Terms of the Credit Facility

The revolving credit line carries a fixed interest rate of 9.25% per annum and is secured by certain equity interests held by the borrower. VineBrook Homes Trust serves as guarantor on the obligation. The facility matures on February 25, 2028, with an option to extend for one additional year, subject to meeting specified conditions and paying an extension fee.

VineBrook will also pay an unused line fee of 0.50% annually on any undrawn portion of the facility. The company retains the flexibility to prepay outstanding amounts at any time without incurring premiums or penalties, though total borrowings may not exceed the established borrowing base.

Covenants and Default Provisions

The agreement includes customary representations, warranties, and both affirmative and negative covenants. Key financial requirements include maintaining a maximum debt-to-capital ratio, a minimum net asset value, and a minimum net operating income level. Should an event of default occur, the lender has the right to demand immediate repayment of all outstanding principal and accrued interest.

Related-Party Considerations

The company disclosed that Ohio State Life Insurance may be considered an affiliate of NexPoint Real Estate Advisors V, L.P., which serves as VineBrook’s external adviser, due to common beneficial ownership. This related-party dimension adds important context to the arrangement.

VineBrook, classified as an emerging growth company with no securities registered on any exchange, filed the report on March 4, 2026. Paul Richards, the company’s Chief Financial Officer, Assistant Secretary, and Treasurer, signed on behalf of the registrant.

The new credit facility provides VineBrook with additional liquidity as it continues operating in the competitive single-family rental housing market.