Company: INVH
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0001687229-25-000036
Chunk: 62

Company: Invitation Homes Inc.
Filing Date: 2025-07-31
Form: 10-Q
Item: Item 1
Chunk 62
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. We also hold deposits for certain tax deferred property exchange transactions and letters of credit required by certain of our insurance policies, for which the use of each are restricted. Accordingly, amounts funded to these reserve accounts, security deposit accounts, and other restricted accounts have been classified on our condensed consolidated balance sheets as restricted cash.The amounts funded, and to be funded, to the reserve accounts are subject to formulae included in the Secured Debt loan agreements and are to be released to us subject to certain conditions specified in the loan agreements being met. To the extent that an event of default were to occur, the loan servicer has discretion to use such funds to either settle the applicable operating expenses to which such reserves relate or reduce the allocated loan amount associated with a residential property of ours.The balances of our restricted cash accounts are set forth in the table below. As of June 30, 2025 and December 31, 2024, no amounts were funded to the insurance accounts as the conditions specified in the Secured Debt loan agreements that require such funding did not exist.

June 30,2025December 31, 2024Resident security deposits$186,004 $181,549 Tax deferred property exchange deposits11,059 47,551 Property taxes10,328 4,343 Collections6,786 7,365 Letters of credit2,536 2,495 Capital expenditures1,623 1,623 Special and other reserves276 276 Total$218,612 $245,202  

Note 5—Investments In Unconsolidated Joint Ventures

The following table summarizes our investments in unconsolidated joint ventures, which are accounted for using the equity method of accounting, as of June 30, 2025 and December 31, 2024:Number of Properties OwnedCarrying ValueOwnership PercentageJune 30,2025December 31, 2024June 30,2025December 31, 2024Pathway Property Company(1)100.0%720590$105,677 $102,520 2020 Rockpoint JV(1)20.0%2,6052,60640,378 44,846 Upward America JV(2)7.2%3,7203,72034,441 37,809 FNMA(3)10.0%35538715,313 22,072 Pathway Operating Company(4)15.0%N/AN