VINEBROOK HOMES TRUST, INC.: debt financing — VineBrook Homes Trust closes $403.66M securitization on 2,464 single-family rentals

VINEBROOK HOMES TRUST, INC.

5-year fixed-rate interest-only loan with $403.66M principal; weighted average coupon 4.5%.
Secured by 2,464 single-family rental homes; OP retained $39.87M Class F certificates for risk retention.
Net proceeds used to repay warehouse facility, fund reserves, and general corporate purposes.
Advisory agreement amended to clarify 2023 LTIP costs count toward 1.5% expense cap.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.95

VINEBROOK HOMES TRUST, INC. incurred credit facility of $403,660,000 with Bank of America, National Association at 4.5000% weighted average (components A-E2: 4.6495%; component F: 0.0005%) maturing March 9, 2029.

Instrument: credit facility
Principal: $403,660,000
Counterparty: Bank of America, National Association
Rate: 4.5000% weighted average (components A-E2: 4.6495%; component F: 0.0005%)
Maturity: March 9, 2029
Event: incurrence

Exact text from the filing

on February 29, 2024, VineBrook Homes Operating Partnership, L.P. (the “OP”), the operating partnership of the Company, completed a securitization transaction, VINE 2023-SFR2, providing for a 5-year, fixed-rate, interest-only loan with a term of 60 months with a total principal balance of $403,660,000.

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Source: SEC EDGAR

accession 0001755755-24-000016

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