Invitation Homes Inc. (NYSE: INVH), the nation’s premier single-family home leasing and management company, has announced that it has entered into an agreement to form a new joint venture partnership with a leading global real estate investment partner. The joint venture will leverage the company’s strong homebuilder partnerships, management expertise, and unmatched scale to invest in newly constructed homes and communities in several high-growth markets. The joint venture is expected to deploy approximately US$500 million, including debt, to acquire newly constructed homes. The joint venture will be initially capitalized with a total equity commitment of US$200 million, of which US$50 million will be committed by Invitation Homes, with potential to upsize equity commitments through follow-on investment tranches in the future.

Latham & Watkins LLP advised Invitation Homes in the joint venture, led by a real estate team including Global Co-Chair Michael Haas and New York partner Mark Semotiuk, with associates Tim Wilt and William Anderson. Advice was provided on tax matters by Century City partner Ana O’Brien, and counsel Will Kessler.