Invitation home

Invitation Homes Inc. is the largest owner and operator of single-family rental homes in the United States. Founded in 2012, the company emerged in the wake of the housing crisis with a focus on acquiring, renovating, and leasing single-family homes. Initially backed by Blackstone, Invitation Homes became a public company in February 2017 through an initial public offering (IPO) on the New York Stock Exchange under the ticker symbol INVH. This IPO was the second-largest for a real estate investment trust (REIT) in the U.S. at the time, raising approximately $1.77 billion. In November 2017, Invitation Homes merged with Starwood Waypoint Homes, further solidifying its position as a leader in the single-family rental market. Blackstone divested its remaining shares in Invitation Homes in November 2019.

The company's business model centers on providing high-quality, updated homes in desirable neighborhoods, often with features like Smart Home technology. Invitation Homes targets markets with high employment and household formation growth, with a significant portion of its portfolio located in the Western U.S., the Southeast, Texas, and Florida. As of early 2024, Invitation Homes owned and operated a portfolio of over 80,000 homes across 16 major U.S. markets. The company caters to a diverse range of residents, typically individuals and families in their late 30s with children and household incomes around $100,000. Invitation Homes emphasizes its commitment to providing a worry-free leasing lifestyle, professional property management, and industry-leading maintenance services. The company has also ventured into building new homes for its rental portfolio through strategic partnerships with homebuilders like PulteGroup. Invitation Homes aims to address the growing demand for rental housing and offer flexibility and choice to those who opt not to buy a home.