A home on Casaba Ave. in Canoga Park that Invitation Homes recently bought, fixed up and turned into a rental property.

Mel Melcon | Los Angeles Times | Getty Images

A home on Casaba Ave. in Canoga Park that Invitation Homes recently bought, fixed up and turned into a rental property.

Invitation Homes said on Thursday it would buy Starwood Waypoint Homes in an all-stock deal that would create a $11 billion U.S. single-family rental company.

Under the deal, each Starwood Waypoint Homes share will be converted into 1.614 Invitation Homes shares, based on a fixed exchange ratio, Blackstone-owned Invitation Homes said.

After the deal closes, Invitation Homes stockholders will own about 59 percent of the combined company’s stock, with Starwood Waypoint stockholders owning the rest.

Source

NO COMMENTS