Vinebrook Homes Trust Inc., a private real estate investment trust managed by an affiliate of NexPoint Real Estate Advisors, recently declared its monthly net asset value per share for August 2021.
As of August 31, 2021, Vinebrook had a NAV per share of $46.19, compared to $43.76 per share the previous month. Shares were originally priced at $25.00 each.
Vinebrook invests in single-family rental properties and recently became a 12(g) filer, meaning that it will file quarterly and annual financial reports with the SEC, along with other reports as required by federal securities laws. The REIT’s 12(g) status took effect because it surpassed the threshold of individual investors. As of December 31, 2020, the total value of its assets exceeded the minimum requirement, and its common stock was held by 2,000 or more persons.
Vinebrook Homes Trust’s portfolio consists of 14,697 single-family rental properties valued at nearly $1.8 billion, as of the second quarter of 2021, and the company has purchased approximately 5,000 of those properties in the last two years.
The properties are primarily located in the Midwest, Heartland and southern U.S. markets, with a large portion concentrated in Cincinnati, Dayton and Columbus, Ohio, as well as St. Louis, Indianapolis, Birmingham, and Kansas City.
In July, Bloomberg reported that Vinebrook was exploring an initial public offering, although this has not been confirmed or denied by the company.
Since launching its Regulation D private placement offering in November 2018, Vinebrook has raised more than $370 million, including proceeding from the distribution reinvestment plan. From July 2, 2021 through August 9, 2021, VineBrook issued 1.6 million shares of its Class A common stock in its continuous private placement for gross proceeds of approximately $68.1 million.
NexPoint is a multibillion-dollar alternative investment platform comprised of investment advisers NexPoint Advisors, L.P. and NexPoint Real Estate Advisors, L.P., and a suite of related investment vehicles. Investment offerings include publicly traded REITs, Regulation D private placements, Delaware statutory trusts and 1031 exchanges, closed-end funds, interval funds, and a business development company.