Invitation Homes, Inc., announced Thursday that it completed its merger with Starwood Waypoint Homes. The combined company, which will operate under the Invitation Homes name, is now the largest single-family rental company in the U.S., managing a portfolio of about 82,000 homes nationwide.
Still, the company’s portfolio represents less than 0.1 percent of the more than 90 million single-family homes in the U.S. and 0.5 percent of the nearly 16 million single-family rentals, BUILDER reports. The two companies have invested nearly $2 billion in single-family rental renovations and maintenance—about $22,000 per home.
“Bringing together the best of both companies will help us continue to enhance customer service and expand housing choices for our residents,” says Invitation Homes CEO Fred Tuomi. “We will be able to more effectively and efficiently deliver exceptional living experiences near good jobs and good schools for families choosing to rent.”
Source: “Invitation, Starwood Waypoint Complete Merger,” BUILDER (Nov. 16, 2017)
