Company: INVH
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0001687229-25-000008
Chunk: 23

Company: Invitation Homes Inc.
Filing Date: 2025-02-27
Form: 10-K
Item: Item 7
Chunk 23
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 in investing activities was $465.9 million and $773.6 million for the years ended December 31, 2024 and 2023, respectively, a decrease of $307.7 million. The decrease in net cash used in investing activities resulted primarily from the combined effect of the following significant changes in cash flows during the year ended December 31, 2024 compared to the year ended December 31, 2023: (1) a decrease in cash used for the acquisition of homes; (2) an increase in cash proceeds received from the sale of single-family homes; (3) an increase in cash used for investments in joint ventures; and (4) an increase in cash provided from repayment proceeds from retained debt securities. Acquisition spend decreased by $234.0 million from period to period due to a decrease in the number of homes acquired from 2,877 during the year ended December 31, 2023 to 2,072 homes acquired during the year ended December 31, 2024. Proceeds from the sale of single-family homes increased $97.1 million due to an increase in the number of homes sold from 1,423 during the year ended December 31, 2023 to 1,501 homes sold during the year ended December 31, 2024 and an increase in average net proceeds per home. Cash invested in joint ventures increased $43.7 million from period to period as a result of the formation of new joint ventures during 2024. 

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Proceeds from repayment of retained debt securities increased $31.3 million from the year ended December 31, 2023 to the year ended December 31, 2024 due to the full repayment of IH 2018-4 during the year ended December 31, 2024.

Financing Activities

Net cash used in financing activities was $1,093.7 million for the year ended December 31, 2024 compared to net cash provided by financing activities of $110.0 million for the year ended December 31, 2023. The change between periods is primarily due to the following financing transactions. During the year ended December 31, 2024, we issued $494.3 million of unsecured notes, net of discount, and refinanced the 2020 Credit Facility. The proceeds were used to repay the existing credit facility and $645.7 million of mortgage loans, including