’s single-family rental platform Invitation Homes has announced its plans for an initial public offering, according to reports from the Wall Street Journal and Forbes.
Invitation Homes could receive more than $5 billion from the IPO, according to Forbes. Citing a filing by Invitation Homes, the Wall Street Journal reported that among other purposes, the proceeds from the IPO to repay Invitation Homes’ debts.
Noting that ongoing home price appreciation continues to put upward pressure on rents, Antoine Gara of Forbes wrote that “For Blackstone, the IPO will mark the beginning of an exit from one of the biggest bets in its history.”
In July 2016, Blackstone first announced the intention to go public with Invitation Homes at…