Single-family home leasing and management company Invitation Homes has acquired Atlanta-based ResiBuilt Homes, a developer focused on build-to-rent communities in high-growth markets across the Southeast.

As housing affordability remains a growing concern across the U.S., Dallas-based Invitation Homes said the deal strengthens its ability to add housing supply through purpose-built rental communities aimed at families.

At its investor day in November, Invitation Homes outlined a long-term strategy for build-to-rent housing, often referred to as BTR, that blends development with construction lending, President and CEO Dallas Tanner said. The acquisition of ResiBuilt is intended to accelerate that approach.

“Today’s announcement reflects months of thoughtful planning to advance that vision,” Tanner said in a statement. He described ResiBuilt’s development platform as “a key step forward” in expanding Invitation Homes’ ability to execute on new construction.

Tanner said the company sees new supply as part of the solution to rising housing costs. “By adding supply in desirable markets and creating communities that families are proud to call home, we believe we can make a meaningful impact,” he said.

Invitation Homes said it plans to boost housing availability through new construction while relying on capital-light partnerships to meet growing demand for what it described as attainable, high-quality rental housing.

ResiBuilt brand to continue

Invitation Homes acquired ResiBuilt for $89 million plus up to $7.5 million in potential incentive-based earn-out payments tied to third-party fee-build performance.

ResiBuilt develops single-family rental communities across Georgia, Florida, and the Carolinas. Founded in 2018, the company has delivered more than 4,200 homes and focuses on fee-based development for build-to-rent operators, per the announcement.

As part of the transaction, ResiBuilt’s roughly 70 associates, including Co-Founder and President Jay Byce, joined Invitation Homes and will continue operating under the ResiBuilt brand.

The acquisition included 23 existing fee-building contracts, along with a pipeline of additional third-party development opportunities not yet under contract. Invitation Homes said the transaction is expected to add modestly to its adjusted funds from operations (AFFO) per share in 2026.

No land was included in the deal, though Invitation Homes secured options to acquire approximately 1,500 “well-located” lots for potential future development.

“Joining Invitation Homes is an exciting opportunity for our team and our business,” Byce said. “We’ve spent years building a best-in-class operation focused on delivering quality homes for the single-family rental market.” He said becoming part of Invitation Homes allows ResiBuilt to scale that work and reach more families seeking rental housing.

More on the deal

ResiBuilt’s original parent company, RESICAP, will remain independent following the transaction. Under the terms of the deal, RESICAP will continue to operate in its existing BTR and single-family rental joint ventures, property management, land entitlement/development, maintenance, and renovation verticals, but will be restricted from competing with ResiBuilt in ground-up BTR construction.

“We’re proud of what we’ve built with ResiBuilt and look forward to seeing it grow as part of Invitation Homes,” RESICAP CEO Andy Capps said. He said RESICAP will continue operating as a separate business focused on housing development and operational services across the single-family rental and build-to-rent sectors.

Jones Day served as legal counsel to Invitation Homes. Alston & Bird and Zelman served as legal and financial advisors, respectively, to RESICAP.

Quincy Preston contributed to this report.

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