A PYMNTS Company

US: Home rental giant created in US$20b Starwood merger deal

By  |  August 10, 2017

Invitation Homes and Starwood Waypoint Homes — two of the nation’s largest owners of single-family rental houses — announced Thursday they are merging, creating a behemoth rental company as the country’s home ownership rate remains depressed.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    The deal comes as home prices have risen across the country, and it reflects the difficulty that such giant rental firms now have in growing. Gone is the wave of cheap foreclosures that propelled their rapid expansion early this decade, prompting consolidation within the industry.

    “This merger creates the leading single-family rental company in the United States, which will be uniquely positioned to deliver exceptional service to residents, while also improving operating efficiency,” said Fred Tuomi, chief executive of Starwood Waypoint, who will lead the new firm under the Invitation Homes name.

    The deal is the highest profile and largest merger for the industry yet. Starwood Waypoint itself was a product of a merger last year, when Colony Starwood Homes combined with Starwood Waypoint Residential Trust.

    Full Content: Bloomberg & Financial Times

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.