BOSTON, Feb. 10, 2021 /PRNewswire/ -- VineBrook Homes, LLC ("VineBrook") announced the acquisition (the "Acquisition") of a portfolio of 1,866 single family rental homes across multiple markets. The portfolio expands VineBrook's existing footprint in core Midwest markets, while simultaneously launching its expansion into the Southeast. The homes were originally aggregated, renovated, and managed by Conrex Homes.
"VineBrook has always aspired to supply American families with safe, clean, functional and affordable single family rental homes. During the COVID-19 pandemic, our team has worked more diligently than ever to provide housing security to the more than 30,000 residents we serve in the communities in which we invest, work, and live. This portfolio acquisition significantly increases our scale and density in several existing core markets and marks our entrance into the Southeast with significant unit counts. The consistent performance of the VineBrook team and our scalable, proprietary platform enables us to swiftly integrate homes and residents into our portfolio," said Dana Sprong, Co-Founder and Managing Partner of VineBrook.
"VineBrook's platform and resident experience continues to meet the needs of an incredibly underserved market at a time where truly affordable housing and housing security is more important than ever," said Ryan McGarry, Managing Partner and Chief Operating Officer at VineBrook. "We are proud to welcome approximately 1,800 new families to our community in this transaction."
As part of the Acquisition, VineBrook entered seven new markets in Alabama, Georgia, North Carolina and South Carolina, in addition to VineBrook's existing twelve markets in the Midwest and Heartland. VineBrook now owns 11,166 homes. For more information on renting a VineBrook Home or joining the VineBrook team, visit www.VineBrookHomes.com.
VineBrook Homes, LLC is focused on acquiring, renovating, maintaining, and operating affordable single family rental homes. As of February 1, 2021, the VineBrook portfolio consisted of 11,166 single family homes in 19 markets. The VineBrook team has more than 13 years of experience operating in the workforce single family rental (SFR) space.
SOURCE VineBrook Homes, LLC