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Company's investment helps address needed home supply while adding three new top-tier homebuilder relationships
Invitation Homes Inc. (NYSE:INVH) ("Invitation Homes" or the "Company"), the nation's premier single-family home leasing and management company, announced today that it is under contract to acquire approximately 500 additional newly built homes for a total investment of approximately $140 million. The homes will be located in Charlotte, Jacksonville, and Nashville, and are being acquired through new relationships with three top-tier homebuilders, with deliveries 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," said Scott Eisen, the Company's Chief Investment Officer. "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."
"Our 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," Mr. Eisen continued.
The Company received deliveries of 648 newly built homes in 2023 and currently anticipates deliveries of approximately 1,000 new homes from its new product pipeline in 2024.
Posted In: INVH
