Company: INVH
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0001687229-25-000051
Chunk: 65

Company: Invitation Homes Inc.
Filing Date: 2025-10-30
Form: 10-Q
Item: Item 1
Chunk 65
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90—13,271 3,226 2022 Rockpoint JV(1)16.7%30931910,694 10,426 Total$255,867 $241,605 (1)Owns homes in markets within the Western United States, Southeast United States, Florida, and Texas.(2)Owns homes in markets within the Southeast United States, Florida, Minnesota, Tennessee, and Texas.(3)Represents an investment in an operating company that provides a technology platform and asset management services.(4)Owns homes within the Western United States.(5)During the nine months ended September 30, 2025, our share of income and distributions increased from 10.0% to 50.0% as a result of achieving a promote interest threshold pursuant to the terms of the joint venture agreement.(6)Owns homes in markets within the Southeast United States and Florida.Each joint venture was initially capitalized with equity investments. Certain of the joint ventures subsequently entered into financing arrangements, and we have guaranteed the funding of certain, tax, insurance, and non-conforming property reserves related to the financing of one of the joint ventures. Total remaining equity commitments for our investments in unconsolidated joint ventures are $143,649 as of September 30, 2025.In some cases, responsibility for management and operations of the individual joint venture is vested with our joint venture partner or their affiliates. For other joint ventures, a wholly owned subsidiary of INVH LP functions as an administrative member responsible for management and operations of the individual joint venture, subject to the joint venture partner’s approval of major decisions. Accordingly, we do not have a controlling interest in any of our joint ventures, and they are accounted for using the equity method of accounting.We recorded net income (losses) from these investments for the three months ended September 30, 2025 and 2024, totaling $2,130 of net income and $12,160 of net losses, respectively, and for the nine months ended September 30, 2025 and 2024, totaling $7,890 and $22,780 of net losses, respectively. These amounts are included in income (losses) from investments in unconsolidated joint ventures in the condensed consolidated statements of operations.We earn property and/or asset management fees from each of the joint ventures (except the Pathway Operating Company investment), and these fees are related party transactions. For the three months ended September 30, 2025 and