Company: INVH
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0001687229-25-000008
Chunk: 241

Company: Invitation Homes Inc.
Filing Date: 2025-02-27
Form: 10-K
Item: Item 9B
Chunk 241
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$181,097 Tax deferred property exchange deposits47,551 — Property taxes4,343 2,014 Collections7,365 8,278 Letters of credit2,495 2,489 Capital expenditures1,623 2,297 Special and other reserves276 691 Total$245,202 $196,866  

F-18

INVITATION HOMES INC.NOTES TO CONSOLIDATED FINANCIAL STATEMENTS(dollar amounts in thousands)

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 model of accounting, as of December 31, 2024 and 2023:Number of Properties OwnedCarrying ValueOwnership PercentageDecember 31,2024December 31, 2023December 31,2024December 31, 2023Pathway Property Company(1)100.0%590504$102,520 $120,639 2020 Rockpoint JV(1)20.0%2,6062,60944,846 62,578 Upward America JV(2)7.2%3,720N/A37,809 — FNMA(3)10.0%38742622,072 32,303Pathway Operating Company(4)15.0%N/AN/A20,70621,008 2022 Rockpoint JV(1)16.7%31930910,426 10,638 2024 Peregrine JV(5)30.0%N/AN/A3,226 — Total$241,605 $247,166 (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)Owns homes within the Western United States.(4)Represents an investment in an operating company that provides a technology platform and asset management services.(5)Represents an investment in a joint venture that will invest in newly-constructed homes and communities.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