v3.26.1
Subsequent Events
3 Months Ended
Mar. 31, 2026
Subsequent Events [Abstract]  
Subsequent Events

17. Subsequent Events

Dividends Declared

The Board declared the second regular quarterly dividend of 2026 to common stockholders of $0.50 per share on April 28, 2026, to be paid on June 30, 2026, to common stockholders of record on June 15, 2026.

Series C Preferred

As of May 7, 2026, since March 31, 2026, the Company has issued an additional 286,289 shares of Series C Preferred Stock for net proceeds of $6.4 million.

Series B Preferred Redemptions

Subsequent to March 31, 2026, the Company redeemed an aggregate of 12,906 shares of the Series B Preferred Stock for $0.3 million.

5.75% Senior Note Payoff and Mizuho Facility

On April 29, 2026, the Company entered into a loan agreement for a $375 million senior secured term loan and total return swap with Mizuho Capital Markets LLC with a maturity date of May 1, 2029, with extension options to May 1, 2030. The proceeds from the transaction were used to repay in full the Company’s 5.75% Senior Notes due May 1, 2026.

VineBrook Revolving Credit Agreement

On May 7, 2026, the OP entered into a secured revolving credit agreement with VineBrook Homes Operating Partnership, LP., providing for borrowings of up to $20.0 million, with the ability to increase commitments to $30.0 million, subject to OP approval. Borrowings bear interest at 9.75% per annum, are secured by real estate properties acquired with loan proceeds, and mature on May 7, 2028, with two one‑year extension options subject to customary conditions and fees. The facility includes a 1.00% origination fee on each advance and permits prepayment at any time without penalty.