Company: INVH
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0001687229-25-000019
Chunk: 23

Company: Invitation Homes Inc.
Filing Date: 2025-05-01
Form: 10-Q
Item: Item 1
Chunk 23
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 following table sets forth a summary of our secured debt as of March 31, 2025 and December 31, 2024:Outstanding PrincipalBalance(1)OriginationDateMaturityDateInterestRateMarch 31,2025December 31, 2024IH 2017-1(2)(3)April 28, 2017June 9, 20274.23%$988,232 $988,271 IH 2019-1(4)June 7, 2019June 9, 20313.59%400,386 403,046 Total Secured Debt1,388,618 1,391,317 Less: deferred financing costs, net (5,235)(5,744)Total $1,383,383 $1,385,573 (1)Outstanding principal balance is net of discounts and does not include deferred financing costs, net.(2)IH 2017-1 is comprised of two components, and Component A benefits from the Federal National Mortgage Association’s guaranty of timely payment of principal and interest. IH1 2017-1 bears interest at a fixed rate of 4.23% per annum, equal to the market determined pass-through rate payable on the certificates including applicable servicing fees. Interest payments are made monthly.(3)Net of unamortized discount of $792 and $880 as of March 31, 2025 and December 31, 2024, respectively.

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

(4)IH 2019-1 bears interest at a fixed rate of 3.59% per annum including applicable servicing fees for the first 11 years and for the twelfth year bears interest at a floating rate based on a spread of 147 bps over a comparable or successor rate to the one month London Interbank Offer Rate as provided for in the loan agreement, including applicable servicing fees, subject to certain adjustments as outlined in the loan agreement. Interest payments are made monthly.IH 2017-1 and IH 2019-1 (collectively, the “Secured Debt”) are secured by first priority mortgages on the underlying properties as well as first priority pledges of the equity in the assets of the respective Borrower Entities. IH 2017-1 is further secured by a grant of security