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Items Tagged with 'Invitation Homes'

ARTICLES

Invitation Homes names new CEO and executive chair

Elevates Bryce Blair, adds John Bartling
Ben Lane
Bryce Blair, who has been on Invitation Homes’ board of directors since 2013, was named executive chairman of the board of directors. The company also named John Bartling as president and chief executive officer. Bartling will replace Invitation Homes’ current CEO Nick Gould.
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Vacancies drop again in Invitation Homes rental securitizations

Continues downward trend
Ben Lane
In Invitation Homes’ $1 billion single-family rental securitization, which launched earlier this year, the cash flow vacancy rate of the underlying properties fell to 5.4% as of July 31, down from June’s revised figure of 6.2%.
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Invitation Homes bringing third REO-to-rental securitization to market

Asset class becoming more popular
Ben Lane
Of note in the presale report is the vacancy rate of the underlying properties, which stands at 4.4% as of the cutoff date. That’s lower than the vacancy rate in Invitation Homes’ previous SFR securitization in 2014, which was 5.1%, but still far above the vacancy rate of any of the other rental securitizations this year.
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KBRA rates third Invitation Homes single-family 2014-SFR2

Trey Garrison
Kroll Bond Rating Agency assigns preliminary ratings to six classes of Invitation Homes 2014-SFR2 single-family rental pass-through certificates.
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Vacancies drop in Invitation Homes rental securitization

Reverses previous month’s surge
Ben Lane
"With initial lease expirations peaking in May and June 2014 (23.3% of all properties in the pool had leases expiring through May 2014 and 34.3% through June 2014), Morningstar expects the month-end vacancy rate to stabilize and to potentially decline," Morningstar said in its update.
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Vacancies surge in Invitation Homes $1 billion rental securitization

Up nearly 33% in May
Ben Lane
By property count, the month-end vacancy rate as of May 31 was 7.3%, up from 5.5% as of April 30. That’s an increase of nearly 33%.
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Blackstone bet big on Majority Leader Cantor and lost

Cantor goes down despite help from nation’s landlord
Trey Garrison
Majority Leader Eric Cantor was handed a shocking upset defeat Tuesday night, but he didn’t go down alone – Blackstone Group bet big on the moderate establishment Republican and now that investment is down the tubes as Cantor is on a path to private citizenship.
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Is it cheaper to rent a securitized apartment?

For Invitation Homes, the answer is yes
Jacob Gaffney
The use of securitization as a funding vehicle for any asset class is attractive as both a risk-mitigation tool and liquidity measure. However, there may be another uptick not initially measured, according to Kroll Bond Ratings inaugural issue measuring the Invitation Homes rental securitization deal.
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Invitation Homes prices nearly $1 billion rental securitization

$477.48 million tranche rated AAA by Moody’s, Kroll, Morningstar
Ben Lane
Invitation Homes priced the largest tranche of the deal, $477.48 million, at one-month LIBOR plus 100 basis points. The total securitization is for $993 million.
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Moody’s issues ratings for $1B Invitation Homes rental securitization

Rates $801.9 million in four classes
Ben Lane
Moody’s becomes the third ratings agency to issue $483.3 million in AAA ratings to the largest tranche of the deal.
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