Invitation Homes Inc., a leading single-family home leasing and management company, has announced a joint venture with a global real estate investment firm. The partnership aims to invest in newly constructed homes and communities in high-growth markets, leveraging Invitation Homes’ existing relationships with homebuilders and its management expertise.
According to CEO Dallas Tanner, the initiative aligns with the company’s strategy of partnering with builders to provide high-quality housing options while focusing on risk-adjusted returns. Tanner emphasized that this growth approach has become a hallmark of the company’s business model.
The joint venture plans to deploy approximately $500 million, including debt, to acquire newly constructed homes. It will initially be funded with $200 million in equity, of which Invitation Homes will contribute $50 million. The agreement allows for potential future investments through additional equity commitments.
Invitation Homes will manage the venture and earn management fees, along with the potential for a promoted interest based on performance thresholds. Additionally, the company retains certain rights to acquire the properties owned by the joint venture in the future.
Eastdil Secured acted as financial advisor to Invitation Homes for the partnership, while Latham & Watkins LLP provided legal counsel.
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By Proptechbuzz
By Ravi Kumar
