Invitation Homes Acquires ResiBuilt to Enhance Development Capabilities and Deliver More Housing Solutions for American Families

Core Viewpoint - Invitation Homes Inc. has acquired ResiBuilt Homes, LLC for $89 million, enhancing its capacity to address the demand for attainable housing through new construction and partnerships [1][3]. Group 1: Acquisition Details - The acquisition price is $89 million, with potential additional earn-out payments of up to $7.5 million based on performance [1]. - The transaction includes 23 existing fee-building contracts and a pipeline of additional third-party fee opportunities [3]. - Invitation Homes has secured options to acquire approximately 1,500 well-located lots for future development [3]. Group 2: Company Background - ResiBuilt, headquartered in Atlanta, has delivered over 4,200 homes since its founding in 2018 and is known for quality construction and operational efficiency [2]. - The team from ResiBuilt, including Co-founder and President Jay Byce, will continue to operate under the ResiBuilt brand after the acquisition [2]. Group 3: Strategic Vision - The acquisition aligns with Invitation Homes' long-term vision to create value through a dynamic build-to-rent growth strategy [4]. - The company aims to enhance its execution capabilities and address housing affordability by adding supply in desirable markets [4]. Group 4: Future Operations - ResiBuilt's original parent company, RESICAP, will remain independent and continue its operations in various sectors, but will not compete with ResiBuilt in ground-up BTR construction [5].