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Invitation Homes, Starwood Waypoint merging in stock-for-stock deal

Aug 11, 2017 - SNL Real Estate Daily
Board and Executive Moves-Mergers and Acquisitions

Invitation Homes Inc. signed a definitive agreement to combine with fellow single-family rental real estate investment trust Starwood Waypoint Homes in a 100% stock-for-stock merger of equals.

The deal would create an entity with an equity market capitalization of approximately $11 billion and a total enterprise value of $20 billion, based on both companies' closing stock prices Aug. 9. Blackstone Group LP is the majority stockholder of Invitation Homes.

The combined entity will oper...