Invitation Homes Announces Update to Its New Product Pipeline
June 03 2024 - 4:30PM
Business Wire
Company continues to help bring needed new
home supply to the market at attractive yields on cost through its
premier 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 an update to its new product
pipeline, which represents a strategic collaboration between the
Company and its national and regional homebuilder partners to bring
new supply of housing to many communities across the United States.
During the second quarter to date, the Company and several of its
homebuilder partners went under contract to construct over 1,000
newly built homes at a total investment of approximately $274
million. These homes will be located in three of the Company’s core
markets of Dallas, Houston, and the Carolinas, with deliveries
expected to begin later this month.
“We’re pleased that our homebuilder relationships continue to
bear fruit as we further deepen existing partnerships and forge new
ones,” said Scott Eisen, the Company’s Chief Investment Officer.
“In addition to increasing much needed new home supply, we believe
our homebuilder relationships offer a significant growth channel
with attractive yields on cost.”
About Invitation Homes
Invitation Homes, an S&P 500 company, is the nation's
premier single-family home leasing and management company, meeting
changing lifestyle demands by providing access to high-quality,
updated homes with valued features such as close proximity to jobs
and access to good schools. The Company's mission, "Together with
you, we make a house a home," reflects its commitment to providing
homes where individuals and families can thrive and high-touch
service that continuously enhances residents' living
experiences.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended (the “Exchange Act”), which include, but are not limited
to, statements related to the Company's expectations regarding the
performance of the Company's business, its financial results, its
liquidity and capital resources, and other non-historical
statements. In some cases, you can identify these forward-looking
statements by the use of words such as “outlook,” “guidance,”
“believes,” “expects,” “potential,” “continues,” “may,” “will,”
“should,” “could,” “seeks,” “projects,” “predicts,” “intends,”
“plans,” “estimates,” “anticipates,” or the negative version of
these words or other comparable words. Such forward-looking
statements are subject to various risks and uncertainties,
including, among others, risks inherent to the single-family rental
industry and the Company's business model, macroeconomic factors
beyond the Company's control, competition in identifying and
acquiring properties, competition in the leasing market for quality
residents, increasing property taxes, homeowners’ association and
insurance costs, poor resident selection and defaults and
non-renewals by the Company's residents, the Company's dependence
on third parties for key services, risks related to the evaluation
of properties, performance of the Company's information technology
systems, risks related to the Company's indebtedness, and risks
related to the potential negative impact of unfavorable global and
United States economic conditions (including inflation and rising
interest rates), uncertainty in financial markets (including as a
result of events affecting financial institutions), geopolitical
tensions, natural disasters, climate change, and public health
crises, on the Company’s financial condition, results of
operations, cash flows, business, associates, and residents.
Accordingly, there are or will be important factors that could
cause actual outcomes or results to differ materially from those
indicated in these statements. The Company believes these factors
include, but are not limited to, those described under Part I. Item
1A. “Risk Factors” of its Annual Report on Form 10-K for the year
ended December 31, 2023 (the “Annual Report”), as such factors may
be updated from time to time in the Company's periodic filings with
the Securities and Exchange Commission (the “SEC”), which are
accessible on the SEC’s website at www.sec.gov. These factors
should not be construed as exhaustive and should be read in
conjunction with the other cautionary statements that are included
in this release, in the Annual Report, and in the Company's other
periodic filings. The forward-looking statements speak only as of
the date of this press release, and the Company expressly disclaims
any obligation or undertaking to publicly update or review any
forward-looking statement, whether as a result of new information,
future developments or otherwise, except to the extent otherwise
required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20240603053115/en/
Investor Relations Contact: Scott McLaughlin 844.456.INVH
(4684) IR@InvitationHomes.com
Media Relations Contact: Kristi DesJarlais 972.421.3587
Media@InvitationHomes.com
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