Wednesday, October 7th, 2020
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Invitation Homes and Rockpoint Group have formed a $375 million joint venture that will acquire single-family homes to operate as rental residences.
Of the total equity commitment, $75 million will be committed by Invitation Homes and $300 million will be committed by Rockpoint. A total of over $1 billion, including debt, is expected to be deployed by the JV to acquire and renovate single-family homes in markets within the Western US, Southeast US, Florida, and Texas, where Invitation Homes already owns homes. The homes are expected to be similar to the homes in Invitation Homes’ existing portfolio.
Invitation Homes will provide investment, asset management, and property management services to the JV.
Fundamentals in the single-family rental home markets have proven to be very sound during the pandemic and subsequent recession, bringing in investors such as Blackstone. This summer a syndicate of investors led by Blackstone Real Estate Income Trust made
My home’s front porch was the feature that made me yell, “Stop the car!” when my husband and I were house hunting some 20 years ago.
Having grown up in a relatively charmless 1955 split-level, I viewed a front porch as a delightful throwback to days when neighbors knew one another by name—a time when life was a bit slower, simpler. When I spotted this porch on this house, it was love at first sight.… Read More