NexPoint Real Estate Finance entered into a $20 million secured revolving credit agreement with VineBrook Homes, bearing 9.75% interest and maturing in 2028.
Key takeaways
The OP entered a $20M secured revolving credit agreement with VineBrook Homes at 9.75% interest.
The credit agreement matures on May 7, 2028, with two one-year extension options.
Borrower may request increase of revolving commitment up to $30M, subject to OP approval.
Origination fee of 1.00% per advance and extension fee of 0.50% of aggregate commitment.
Customary covenants include maximum debt to capital ratio, minimum net asset value, and minimum net operating income.