Dallas-based Invitation Homes, the largest owner of rental houses in the U.S., is boosting its already large presence in the Sun Belt through a roughly $650...
that Starwood had been seeking to sell homes it acquired when prices for single-family rentals were near their peak.
Invitation Homes CEO Dallas Tanner said the company believes it purchased the homes at a meaningful discount and will add value that would have been impossible to replicate through one-off homebuying.“Essentially, this is a high-growth portfolio of exceptionally well-located homes that we bought at a pretty attractive price,” Tanner said.
More than 90% of the acquired homes are in Sun Belt regions including Texas and Florida as well as Las Vegas, Phoenix, Atlanta, North Carolina and South Carolina, according to Invitation. The average cost per home was $346,000. “In particular, these are great homes within desirable infill neighborhoods that we believe will provide strong rent growth and value appreciation,” Tanner said.As of the end of June, Invitation Homes owned 2,849 homes in Dallas-Fort Worth. While the company is headquartered in Dallas, the North Texas region only makes up less than 4% of its portfolio. Its largest markets are Atlanta, Phoenix, Tampa and South Florida.The company had more than $1.
“We’ve often emphasized how we believe our strong balance sheet positions us well for desirable growth opportunities should they arise,” said Charles Young, Invitation’s president and chief operating officer.Invitation made $138 million in net income in second-quarter 2022, up 24% from a year prior. Revenue increased 7.7% to $600 million. About 98% of its homes were occupied.
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Eldery woman dies during Southwest Side house fire, underscores importance of smoke detectors in homesBattalion Chief A. Deason said that most people are killed by smoke rather than heat or flames during a house fire. Smoke detectors are a simple, cost efficient, life-saving device that should be in every room in every home.
Leer más »
Row of porch roofs collapse outside homes in Philadelphia neighborhoodLarge pieces of debris were left littered across the sidewalk as SkyFOX flew over the scene.
Leer más »
Should there be a limit on the number of homes built in downtown Oceanside?City staff is proposing to cap number of dwelling units per acre to address concerns about over-development
Leer más »
Sales of newly built homes lose some momentum in JuneU.S. new-home sales fell 2.5% to an annual rate of 697,000 in June, from a revised 715,000 in the prior month, the Commerce Department reported Wednesday.
Leer más »
Foster care struggling to find homes for thousands of childrenOver 10,000 children in Pennsylvania without families in the foster care system. Officials said there are much more children than homes, leading to a struggle.
Leer más »
Naperville homes with cracked siding get help from to fix issues as they sue original developerThe four Naperville homeowners who reached out to the I-Team about cracked siding on their relatively new homes are getting brand new siding from a company that had nothing to do with the problem, but wanted to help.
Leer más »