Invitation Homes announced the purchase of ResiBuilt Homes, LLC for a $89 million cash consideration, with an earn‑out of up to $7.5 million tied to third‑party fee‑build performance. The deal adds 23 existing fee‑building contracts, a pipeline of additional third‑party opportunities, and options to acquire roughly 1,500 well‑located lots, positioning the company to accelerate its build‑to‑rent (BTR) pipeline in the Southeast.
ResiBuilt, founded in 2018, has delivered more than 4,200 homes across Georgia, Florida and the Carolinas. The company’s 70‑person team will join Invitation Homes, bringing proven construction and community‑design expertise that complements the operator’s existing ownership and management businesses.
The acquisition strengthens Invitation Homes’ capital‑light growth model. By integrating ResiBuilt’s fee‑building contracts and lot options, the company can expand its BTR footprint without the upfront cost of land acquisition, while leveraging its existing infrastructure to deliver homes more efficiently. The transaction is expected to be modestly accretive to 2026 AFFO per share, reflecting the immediate scale and the low‑cost nature of the fee‑build model.
Dallas Tanner, President and CEO, said the deal “builds on the long‑term vision we shared at Investor Day in November 2025 to combine construction lending and development with our ownership and management expertise.” He added that ResiBuilt’s development model will help Invitation Homes address the nation’s housing‑affordability gap by increasing the supply of high‑quality, single‑family rentals.
The BTR market is expanding rapidly in Sun Belt states, driven by rising home‑ownership costs and demographic shifts. Invitation Homes’ acquisition of ResiBuilt positions it to capture a larger share of this growth while mitigating regulatory headwinds that have affected large institutional single‑family operators. The deal also strengthens the company’s competitive position against other BTR developers that are consolidating pipelines and scaling operations.
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