NexPoint-managed single-family landlord eyes IPO amid rental boom

VineBrook Homes operates over 13K rental homes, primarily in the Midwest

National /
Jul.July 15, 2021 11:05 AM
NexPoint founder and principal James Dondero (Nexbank)

NexPoint founder and principal James Dondero (Nexbank)

As demand for rental properties grows, NexPoint is looking to harness the momentum by taking a single-family landlord public.

VineBrook Homes Trust, a massive single-family landlord managed by NexPoint Real Estate Advisors, is in discussions to potentially pursue an IPO by the end of the year, according to Bloomberg News.

The company operates over 13,500 single-family rentals across 16 states, primarily in the Midwest. Around half of its portfolio is in Cincinnati, Columbus and Dayton. The average rent on VineBrook’s properties is $1,000 a month, relatively affordable compared to its peers in the market.

A person familiar with the matter told Bloomberg News that the discussions are not conclusive, and the company may wait until 2022 or even choose to remain private.

Desires to go public could stem from a hot housing market that has buoyed single-family rentals. Once considered the domain of smaller investors, rentals are now seen as a tremendous asset for larger players as Americans look to find places to stay without long-term commitments. Rents on single-family homes are growing at their fastest rate in a decade.

Blackstone’s Invitation Homes is seen as a leader in the market. The firm went public in 2017 with an offering at $1.5 billion and a portfolio of almost 48,000 homes at the time. It now owns more than 80,000 units.

[Bloomberg News] — Holden Walter-Warner





    Related Articles

    arrow_forward_ios
    Real estate powers Blackstone’s best quarter ever
    Real estate powers Blackstone’s best quarter ever
    Real estate powers Blackstone’s best quarter ever
    Terreno Realty CEO W. Blake Baird and an aerial of the property (Google Maps)
    Terreno Realty pays $44M for NJ industrial site
    Terreno Realty pays $44M for NJ industrial site
    Madison Realty Capital Co-Founders Josh Zegen and Brian Shatz with a rendering of the River North development (Madison Realty Capital, FXCollaborative)
    Madison Realty’s altered plans for SI complex approved
    Madison Realty’s altered plans for SI complex approved
    Pandemic forces mom-and-pop landlord to sell out
    Pandemic forces mom-and-pop landlord to sell out
    Pandemic forces mom-and-pop landlord to sell out
    PBC's Eli Elefant and 452 Fifth Ave (PBC)
    Elefant’s PBC to liquidate $2B in US real estate, including HSBC building
    Elefant’s PBC to liquidate $2B in US real estate, including HSBC building
    Chinese developer willing to sell Manhattan supertall site at big loss
    Chinese developer willing to sell Manhattan supertall site at big loss
    Chinese developer willing to sell Manhattan supertall site at big loss
    SL Green CEO Marc Holliday, Chelsea Piers Fitness CEO David Tewksbury and One Madison Avenue (Getty, SL Green)
    Chelsea Piers is coming to SL Green’s One Madison
    Chelsea Piers is coming to SL Green’s One Madison
    The Princeton Club flag in front of 15 West 43rd Street (Google Maps)
    Paper Tigers: Princeton Club defaults on $39M mortgage, may lose digs
    Paper Tigers: Princeton Club defaults on $39M mortgage, may lose digs
    arrow_forward_ios

    The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

    Loading...