Dallas-based Invitation Homes said it will acquire roughly 500 additional newly built homes for a total investment of about $140 million.
Invitation, a single-family-home leasing and management company, said the homes in Charlotte, North Carolina; Jacksonville, Florida; and Nashville, Tennessee. They’re being acquired via new relationships with three “top-tier” homebuilders. Deliveries of the homes are expected to begin later this year.
“As lack of supply continues to be a primary culprit in the high cost of housing, we are proud to further broaden our strong homebuilder partnerships to create additional housing,” Invitation Homes Chief Investment Officer Scott Eisen said in a statement. “At the same time, we believe our strategy of partnering with the largest and best homebuilders to grow our footprint across the country offers the best risk-adjusted returns to our stockholders.”
Eisen said the company’s homes, “provide a choice for individuals and families to live in a great neighborhood that might not otherwise be accessible to them and create a chance for those same households to save money toward their goals.”
The company said it received deliveries of 648 newly built homes in 2023 and currently anticipates delivery of roughly 1,000 new homes from its new product pipeline in 2024.
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R E A D N E X T
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Scott G. Eisen brings more than 26 years of experience in real estate investment banking, mergers and acquisitions, corporate finance, and business development to Invitation Homes, an S&P 500 company and premier U.S. single-family home leasing firm.
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Dallas-based single-family home leasing company Invitation Homes Inc. announced several strategic leadership changes it said would address continued growth and prepare the company for future expansion. The moves highlight the formation of a specialized build-to-rent team and the restructuring of the company's field divisions. A new dedicated build-to-rent asset management team will be led by Alicia MacPhee to capitalize on BTR market opportunities, according to a news release. The company is also restructuring into three field divisions for resident experience oversight. The moves could expand its portfolio and add to service delivery and resident satisfaction capabilities. President and COO Charles…
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