VineBrook Homes Secures $10M Credit Agreement With Ohio State Life

The agreement provides flexibility with extension options, prepayment terms, and an increased borrowing limit.

March 04, 2025

VineBrook Homes Expands Access to Capital

VineBrook Homes Trust, Inc. has locked in a $10 million revolving credit agreement with The Ohio State Life Insurance Company, reinforcing its financial position and expanding its access to capital.

Key Terms of the Agreement

• Loan Structure: Secured by specific equity interests


• Interest Rate: 9 percent per annum


• Maturity Date: February 25, 2027


• Extension Options: Up to three one-year extensions, subject to conditions and an extension fee


• Prepayment: Allowed at any time without penalty

If needed, VineBrook can increase its borrowing limit to $15 million for an additional fee. The agreement also includes financial covenants that impose a maximum debt-to-capital ratio, require a minimum asset value, and maintain a baseline net operating income.

Financial Safeguards and Strategic Impact

The agreement includes covenants designed to manage risk and maintain financial discipline. If VineBrook fails to meet any of the requirements, the lender has the right to demand immediate repayment of outstanding debt.

Beyond providing liquidity, the credit facility enhances VineBrook’s ability to respond to market conditions and operational needs. The Ohio State Life Insurance Company, which serves as lender and administrative agent, has ties to NexPoint Real Estate Advisors V, L.P., VineBrook’s external adviser.

With this credit line in place, VineBrook strengthens its access to capital while retaining flexibility in how it deploys funds.