Invitation Homes is joining the single-family rental joint venture Upward America. The initiative with Quarterra Group, a subsidiary of Lennar Corporation, Centerbridge Partners, and others add 4,400 new homes under management for Invitation Homes.
"The shared build-to-rent vision between Lennar and Invitation Homes creates opportunities that make the single-family lifestyle in a quality-built home more attainable," said Stuart Miller, Executive Chairman and co-Chief Executive Officer of Lennar, in a release.
Invitation Homes' portfolio now stands at nearly 110,000 homes owned and/or managed. Upward America homes are primarily in Florida, Texas and the Carolinas.