DALLAS - Invitation Homes Inc . (NYSE: NYSE:INVH), a leading single-family home leasing and management company, has announced an agreement to provide its property and asset management services to a third-party portfolio owner, adding over 14,000 homes to its platform. This move, revealed on Wednesday, marks a significant expansion for the company, which specializes in high-quality single-family homes for lease.
The newly managed properties are primarily located in markets where Invitation Homes already has a presence, including Atlanta, Phoenix, Dallas, Carolinas, Orlando, and Tampa. The deal is expected to generate property and asset management fees for Invitation Homes, consistent with the company's scale and expertise in the industry.
Dallas Tanner, CEO of Invitation Homes, expressed confidence in the agreement, stating that it aligns with the company's operational capabilities and will contribute to its core business by enhancing scale within its markets. He also suggested that this agreement could pave the way for additional opportunities that would support capital-light earnings growth and potentially improve profit margins and net operating income (NOI) margins for the company's wholly-owned portfolio.
Invitation Homes, an S&P 500 company, has been serving the single-family home leasing sector for 12 years, catering to the evolving lifestyle needs of individuals and families by offering updated homes in desirable locations.
The company has cautioned that this press release contains forward-looking statements, which are based on current expectations and involve various risks and uncertainties that could cause actual results to differ materially.
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