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 03:30 PM
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
    Kobi and Nancy Karp buy Walgreens-leased property in Delray Beach
    Kobi and Nancy Karp buy Walgreens-leased property in Delray Beach
    Kobi and Nancy Karp buy Walgreens-leased property in Delray Beach
    New York, Miami, Chicago, Los Angeles, San Francisco and Chicago (iStock)
    As rent explodes nationally, Miami tops the charts
    As rent explodes nationally, Miami tops the charts
    Alta Developers’ Raimundo Onetto in front of the development site (Google Maps)
    Heading south: Alta buys dev site for apartment complex near Homestead
    Heading south: Alta buys dev site for apartment complex near Homestead
    Grant Cardone and a rendering of LAs Olas Walk (Cardone Capital, ZOM/McNeal Realty)
    Grant Cardone to buy $750M in SoFla apartments
    Grant Cardone to buy $750M in SoFla apartments
    The current building on Dania Beach (Google Maps)
    Shuttered Dania Beach waterfront restaurant could get new life as Lucky Fish
    Shuttered Dania Beach waterfront restaurant could get new life as Lucky Fish
    Jungle Island owner sells Jupiter office building to New York self storage firm for $12M
    Jungle Island owner sells Jupiter office building to New York self storage firm for $12M
    Jungle Island owner sells Jupiter office building to New York self storage firm for $12M
    Arnaud Karsenti, managing principal of 13th Floor Investments (iStock, 13th Floor)
    Brickell church votes to sell waterfront land to developer for condo tower
    Brickell church votes to sell waterfront land to developer for condo tower
    503 South Krome Avenue in Homestead and Armando Bravo (Google Maps)
    Developer buys OZ land in bet on Homestead as “future” of real estate
    Developer buys OZ land in bet on Homestead as “future” of real estate
    arrow_forward_ios

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

    Loading...