Dallas-based Invitation Homes looks for $1 billion to capitalize on housing slowdown HEAD TOPICS
Dallas-based Invitation Homes looks for $1 billion to capitalize on housing slowdown
10/22/2022 9:05:00 PM Dallas-based Invitation Homes looks for $1 billion to capitalize on housing slowdown
Source Dallas Morning News
Dallas-based Invitation Homes looks for $1 billion to capitalize on housing slowdown The single-family rental giant was born in the aftermath of the U.S. foreclosure crisis (Vernon Bryant / Staff Photographer)Bloomberg Wire4:10 PM on Oct 21, 2022 CDTDallas-based Invitation Homes Inc., the single-family rental giant born in the aftermath of the U.S. foreclosure crisis, is seeking a joint venture partner to take advantage of the latest dislocation in home prices. The landlord, which owns more than 85,000 homes, is working with Eastdil Secured to find a partner for a $1 billion joint venture, according to people familiar with the effort, who asked not to be named because the matter is private.The company is turning to external capital in part because raising equity at current levels — the stock price is down roughly 28% so far this year — is less appealing. Invitation’s search for a joint venture partner is in its early stages, said one of the people, and there’s no guarantee an agreement will be reached. Read more:
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Invitation Homes was formed in 2012 and used backing from Blackstone Inc.5:30 AM on Oct 20, 2022 CDT Dallas-based EnLink Midstream LLC expects to sign additional agreements to transport captured carbon dioxide after striking a recent deal with Exxon Mobil Corp.How has the holiday changed for better or worse over the years and what is your fondest personal Halloween memory? Email your 500-word Your Say essay to.An AT&T technician installs fiber optic connections. to rapidly accumulate a portfolio of foreclosed properties. The business then merged with rental-house competitors to form an industry behemoth. Carbon capture and sequestration may double profits from EnLink’s Louisiana segment over the next five years, he said. (Vernon Bryant / Staff Photographer) Bloomberg Wire 4:10 PM on Oct 21, 2022 CDT Dallas-based Invitation Homes Inc., the single-family rental giant born in the aftermath of the U. He took over as CEO in June after working for seven years at larger rival Kinder Morgan Inc.S. AT&T could find a partner as soon as this year, but it could also slip into 2023, one of the people added. foreclosure crisis, is seeking a joint venture partner to take advantage of the latest dislocation in home prices. “This is a new growth engine for EnLink,” he added. The landlord, which owns more than 85,000 homes, is working with Eastdil Secured to find a partner for a $1 billion joint venture, according to people familiar with the effort, who asked not to be named because the matter is private. The company is turning to external capital in part because raising equity at current levels — the stock price is down roughly 28% so far this year — is less appealing.S. Invitation’s search for a joint venture partner is in its early stages, said one of the people, and there’s no guarantee an agreement will be reached. A representative for Eastdil declined to comment. Incentives include hefty tax credits under President Joe Biden’s clean energy bill.S. Invitation Homes didn’t immediately return messages seeking comment. The last two years have been a busy time for housing market investors. to an Exxon storage site starting in 2025. The pandemic unleashed torrents of capital to the U.S. EnLink has also had discussions for similar arrangements with companies including Occidental Petroleum Corp. suburbs, as investors looked to profit from rapid household formation and work-from-home trends. The rise of digital infrastructure investing has been swift in recent years, with alternative asset managers such as Brookfield Asset Management, KKR & Co. But high home prices coupled with rising interest rates pushed investors to dramatically slow purchases earlier this year. The company operates more than 11,000 miles of oil and gas pipelines from resource-rich regions like the Permian Basin to market hubs, where the commodities are sold. Invitation has previously worked with Rockpoint Group, including a vehicle announced in March that focused on more expensive homes. Invitation Homes was formed in 2012 and used backing from Blackstone Inc., Bloomberg News Related:. to rapidly accumulate a portfolio of foreclosed properties. The business then merged with rental-house competitors to form an industry behemoth. on a $30 billion joint venture to build semiconductor manufacturing facilities. Few housing market observers expect as big a housing market correction this time around. Even so, the prospect of buying at lower prices — either from regular homeowners, or from homebuilders looking to offload inventory — has been on the radar for some time. In July, Invitation Chief Executive Officer Dallas Tanner told investors that he was slowing purchases and keeping an eye on better deals. “We think there could be some even better buying opportunities,” Tanner said at the time. “If we do see the market change in a way that’s favorable for us, we can take advantage of that. That gives fiber-optic lines a longer-term viability than copper wire or wireless connections. ” Patrick Clark and Gillian Tan, Bloomberg .