Invitation Homes Inc. (NYSE:INVH) Files An 8-K Changes in Control of Registrant

Invitation Homes Inc. (NYSE:INVH) Files An 8-K Changes in Control of Registrant

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Item 5.01

Change in Control of Registrant.
(b) Information required by Item 403(c) of Regulation S-K
regarding arrangements known to the registrant which may at a
subsequent date result in a change of control.
The information set forth under Item 8.01 below is incorporated
by reference into this Item 5.01.
Item 8.01
Other Events.
On April 28, 2017, IH1 Holdco L.P., an affiliate of the
investment funds associated with or designated by The Blackstone
Group L.P. that are the current majority owners of Invitation
Homes Inc. (the Company), informed the Company as follows:
“IHI Holdco L.P. (the Borrower), a stockholder of the Company,
has entered into (i) a Margin Loan Agreement dated as of April
28, 2017 (the Loan Agreement) with the lenders party thereto
(each, a Lender) and the administrative agent party thereto and
(ii) Pledge and Security Agreements of even date, in each case
between one of the Lenders, as secured party (each, a Secured
Party and, collectively, the Secured Parties) and Borrower, as
pledgor (the Borrower Pledge Agreements), and IH2-A Holdco L.P.,
IH3 Holdco L.P., IH4 Holdco L.P., IH5 Holdco L.P., IH6 Holdco
L.P. and IH PP Holdco L.P. (each, a Guarantor and collectively,
the Guarantors) each entered into (a) with each Lender, a Pledge
and Security Agreement (each, a Guarantor Pledge Agreement and,
collectively with the Borrower Pledge Agreements, the Pledge
Agreements) and (b) with the administrative agent and the
Lenders, a full recourse Guarantee of even date of the Borrowers
obligations under the Loan Agreement (each, a Guarantee and,
collectively with the Loan Agreement and the Pledge Agreements,
the Loan Documents). Each of the Borrower and the Guarantors is
affiliated with The Blackstone Group L.P.
As of April 28, 2017, the Borrower has borrowed an aggregate of
$1 billion under the Loan Agreement. Subject to the satisfaction
of certain conditions, the Borrower may borrow up to an
additional $500 million if the existing or new lenders agree to
provide such additional advances. to the Pledge Agreements, to
secure borrowings under the Loan Agreement, the Borrower and the
Guarantors have collectively pledged approximately 219.9 million
shares (collectively, the Pledged Shares) of the Companys common
stock, par value $0.01 per share (Common Stock). The Pledged
Shares represented approximately 70.86% of the Companys issued
and outstanding Common Stock as of March 30, 2017.
The Loan Agreement contains customary default provisions. In the
event of a default under the Loan Agreement by the Borrower, the
Secured Parties may foreclose upon any and all shares of Common
Stock pledged to them and may seek recourse against the
The Company did not independently verify or participate in the
preparation of the foregoing disclosure. In addition, the Company
is not a party to the Loan Documents and has no obligations
thereunder, but has delivered letter agreements to each of the
Lenders in which it has, among other things, agreed, subject to
applicable law and stock exchange rules, not to take any actions
that are intended to materially hinder or delay the exercise of
any remedies by the Lenders under the Pledge Agreements.

About Invitation Homes Inc. (NYSE:INVH)

Invitation Homes Inc. is a real estate investment trust. The Company owns and operates single-family homes for lease in the United States. The Company’s segment relates to acquiring, renovating, leasing and operating single-family homes as rental properties, including single-family homes in planned unit developments. As of September 30, 2016, the Company’s averaged approximately 1,850 square feet with three bedrooms and two bathrooms. As of September 30, 2016, the Company’s portfolio included 48,431 homes. As of September 30, 2016, the Company’s homes were located in Southern California, Northern California, Seattle, Phoenix and Las Vegas in Western United States; South Florida, Tampa, Orlando and Jacksonville in Florida; Atlanta and Charlotte in Southeast United States, and Chicago and Minneapolis in Midwest United States. As of September 30, 2016, the Company had 73 homes in escrow that we expected to acquire, subject to customary closing conditions.

Invitation Homes Inc. (NYSE:INVH) Recent Trading Information

Invitation Homes Inc. (NYSE:INVH) closed its last trading session down -0.04 at 21.55 with 780,194 shares trading hands.

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