- Invitation Homes Inc. (INVH, Financial) acquires over 300 newly built single-family homes, investing more than $100 million in key growth markets.
- The company launches a developer lending program with a $32.7 million loan for a 156-home community in Houston.
- This strategic move aims to expand housing supply and boost Invitation Homes' investment opportunities.
Invitation Homes Inc. (INVH), a leading single-family home leasing and management company, announced a significant update on its acquisitions and the launch of a new developer lending program. During the second quarter, the company partnered with several homebuilders to acquire over 300 newly constructed single-family homes. This acquisition represents an investment exceeding $100 million and is focused on key growth markets, including Dallas, Denver, and Nashville.
In conjunction with its acquisition efforts, Invitation Homes has also initiated a developer lending program. The company has entered into its first agreement with a $32.7 million loan to a homebuilder for the development of a 156-home community in Houston. This loan is secured by the development and offers Invitation Homes the opportunity to acquire the community upon its stabilization.
Scott Eisen, Chief Investment Officer of Invitation Homes, expressed excitement about this new venture, highlighting that the lending program supports the creation of new housing and aligns with the company's strategy to selectively finance developments that could be strategic acquisition targets in the future. This initiative is expected to pave the way for further collaborations with developers to foster a sustainable and accessible housing market.
