VineBrook Homes Trust Inc., a single-family rental real estate investment trust (REIT) that’s managed by Dallas-based NexPoint Real Estate Advisors V LP, has appointed two new executive officers.

The REIT said that John Good was appointed CEO, a role previously held by Brian Mitts, who remains president of the company as well as a member of the board of directors. Paul Richards was appointed VineBrook’s chief financial officer, assistant secretary, and treasurer, positions also previously held by Mitts.

“These executive officer appointments are a key step toward the company’s next phase of growth,” Mitts said in a statement. “We welcome the addition of John and Paul to the leadership team to support that future growth while the Company continues to optimize and enhance the business and portfolio.”

VineBrook Homes Trust is an SEC-reporting real estate investment trust that focuses on acquiring, developing, renovating, leasing, and operating single-family rental properties, primarily in the midwestern, heartland, and southern U.S. markets.

It specializes in affordable single-family homes for lease, with an average monthly rent of roughly $1,280 across its portfolio.

Deep expertise in REITs

The firm said that Good’s appointment as CEO expands the VineBrook executive team, providing additional senior leadership to focus on future growth. He brings to the CEO role more than three decades of REIT and financial services experience from across a range of leadership and advisory roles at both public and private companies, the company said.

As a nationally recognized corporate and securities lawyer, Good served as lead counsel on more than 200 securities offerings largely within the REIT industry and as outside counsel to more than 10 NYSE-listed REITs, Vinebrook said. Previously, he was chairman and CEO of Jernigan Capital Inc., an NYSE-listed self-storage REIT.

With Jernigan’s initial public offering in 2015, Good helped grow the REIT to roughly $1 billion in enterprise value before being acquired by affiliates of NexPoint Advisors LP in 2020. Since that acquisition, Good has remained CEO and chairman of the board of the JCAP successor entity. He also serves as an independent director and the audit committee chair of NYSE-listed REIT Farmland Partners Inc.

Richards’ appointment further expands VineBrook’s leadership team, the company said.

Richards, who is employed by an affiliate of NexPoint, has been actively involved across VineBrook’s business since the REIT formation in 2018, including serving as the company’s vice president of asset management and financing before the CFO appointment.

VineBrook said that Richards brings extensive capital markets and financing experience to the role, having served in key leadership positions for multiple public REITs.

Richards has executed on more than $4 billion in debt financings across the real estate platform advised by NexPoint and its affiliates and has been instrumental in a range of equity offerings, special situations, and other capital markets initiatives totaling over $3 billion and spanning multiple real estate sectors.

Prioritizing affordable housing and company growth

With a portfolio of over more than 21,000 homes, VineBrook is one of the only large SFR operators in the country specializing in the workforce housing segment, which continues to face a critical lack of supply, the company said.

VineBrook said the leadership changes support its long-term commitment to addressing affordable housing needs in the markets where it operates, while maximizing the company’s value. Under the leadership and strategic direction of the expanded executive team, VineBrook said it can remain focused on ongoing initiatives to optimize its portfolio, strengthen its balance sheet, and enhance operations to improve resident experience, while also positioning the company for long-term growth and future opportunities to drive value.

“VineBrook’s commitment to affordability uniquely positions us in the SFR sector, where the company’s growth and success can help address a critical need for quality affordable housing in the U.S., while also delivering strong risk-adjusted returns and dividends to its shareholders,” Good said in a statement. “I’m excited to lend my years of experience leading REITs to further VineBrook’s mission at this important juncture in the company’s life cycle.”

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