Company: INVH
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0001687229-25-000019
Chunk: 64

Company: Invitation Homes Inc.
Filing Date: 2025-05-01
Form: 10-Q
Item: Item 1
Chunk 64
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 Unconsolidated Joint Ventures

Our share of losses from unconsolidated joint ventures was $5.2 million and $5.1 million for the three months ended March 31, 2025 and 2024, respectively, with no significant fluctuations between periods.

Liquidity and Capital Resources

Our liquidity and capital resources as of March 31, 2025 and December 31, 2024 include unrestricted cash and cash equivalents of $84.4 million and $174.5 million, respectively, a 51.6% decrease primarily due to a $102.8 million net decrease in outstanding indebtedness between periods.

As of March 31, 2025, $1,280.0 million of our Revolving Facility is undrawn, and there are no restrictions on our ability to draw funds thereunder provided we remain in compliance with all covenants. We have no debt reaching final maturity until June 2027.

Our ability to access capital as well as to use cash from operations to continue to meet our liquidity needs, all of which are highly uncertain and cannot be predicted, could be affected by various risks and uncertainties, including, but not limited to, the effects of general economic conditions, including inflation and interest rates, as detailed in Part I. Item 1A. “Risk Factors” of our Annual Report on Form 10-K.

48

Long-Term Debt Strategy

The following table summarizes certain information about our debt obligations as of March 31, 2025 ($ in thousands): 

Debt Instruments(1)Balance (Gross of Retained Certificates and Unamortized Discounts)Balance (Net of Retained Certificates)Weighted Average Interest Rate(2)Weighted Average Years to Maturity(3)Amount Freely Prepayable (Gross)Secured:IH 2017-1(4)$989,024 $933,525 4.23%2.2$— IH 2019-1(5)400,386 400,386 3.59%6.2— Total secured1,389,410 $1,333,911 4.04%3.3— Unsecured:2024 Term Loan Facility(6)$1,750,000 S +85 bps4.4$1,750,000 2022 Term Loan Facility(6)(7)725,000 S + 115 bps4