v3.25.4
Consolidated Statements of Operations and Comprehensive Income (Loss) - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Revenues      
Rental income $ 353,381 $ 357,526 $ 345,778
Other income 17,896 5,299 5,330
Total revenues 371,277 362,825 351,108
Expenses      
Property operating expenses 86,214 80,170 81,241
Real estate taxes and insurance 66,843 67,800 65,673
Property management fees 4,001 2,457 13,810
Advisory fees 20,068 20,764 21,758
General and administrative expenses 116,863 81,553 53,208
Depreciation and amortization 124,653 123,940 128,009
Interest expense 150,198 143,851 139,151
Total expenses 568,840 520,535 502,850
Loss on extinguishment of debt (2,083) (3,881) (993)
Gain (loss) on sales and impairment of real estate, net 3,255 (32,455) (72,539)
Investment income 4,080 4,242 361
Reversal of (provision for) loan losses 500 (4,605) 0
Loss on forfeited deposits (1,468) 0 (54,135)
Internalization costs 0 0 (1,099)
Net loss (193,279) (194,409) (280,147)
Net loss attributable to stockholders (155,532) (144,663) (220,960)
Other comprehensive loss      
Unrealized loss on interest rate hedges (14,537) (19,656) (15,050)
Total comprehensive loss (207,816) (214,065) (295,197)
Comprehensive income attributable to Series B Preferred stock 6,052 6,052 0
Comprehensive loss attributable to stockholders $ (167,737) $ (161,372) $ (233,751)
Weighted average common shares outstanding - basic (in shares) 25,734 25,263 24,712
Weighted average common shares outstanding - diluted (in shares) 25,734 25,263 24,712
Loss per share - basic (in dollars per share) $ (6.04) $ (5.73) $ (8.94)
Loss per share - diluted (in dollars per share) $ (6.04) $ (5.73) $ (8.94)
Series A Preferred Stock      
Expenses      
Preferred stock, income statement impact $ 8,793 $ 8,801 $ 8,828
Series B Preferred Stock      
Expenses      
Preferred stock, income statement impact 6,052 6,052 0
VineBrook Homes OP, LP      
Expenses      
Net loss attributable to redeemable noncontrolling interests in the OP (32,131) (29,162) (42,025)
Other comprehensive loss      
Comprehensive (loss) attributable to redeemable noncontrolling interests (34,463) (32,109) (44,284)
Variable Interest Entity, Primary Beneficiary      
Expenses      
Net loss attributable to redeemable noncontrolling interests in the OP (17,993) (30,703) (22,694)
Net loss attributable to noncontrolling interests in consolidated VIEs (2,468) (4,734) (3,296)
Other comprehensive loss      
Comprehensive (loss) attributable to redeemable noncontrolling interests (17,993) (30,703) (22,694)
Comprehensive loss attributable to noncontrolling interests in consolidated VIEs $ (2,468) $ (4,734) $ (3,296)