Company: INVH
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0001687229-25-000036
Chunk: 114

Company: Invitation Homes Inc.
Filing Date: 2025-07-31
Form: 10-Q
Item: Item 1
Chunk 114
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 was $10.0 million and $10.6 million for the six months ended June 30, 2025 and 2024, respectively, with no significant fluctuations between periods.

Liquidity and Capital Resources

Our liquidity and capital resources as of June 30, 2025 and December 31, 2024 include unrestricted cash and cash equivalents of $65.1 million and $174.5 million, respectively, a 62.7% decrease primarily due to acquisitions of homes. As of June 30, 2025, $1,210.0 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.

Amendment of 2022 Term Loan Facility

On April 28, 2025, we entered into an amendment to the 2022 Term Loan Facility that (1) amends the initial maturity date from June 22, 2029 to April 28, 2028, with two, one year extension options at our election, provided we are in compliance with the loan agreement and pay a 12.5 bps extension fee and (2) adjusts the margin applicable to borrowings.

Interest Rate Swap Transactions

During the second quarter of 2025, we entered into two new interest rate swap agreements with a total notional amount of $400.0 million which became active on May 8, 2025 and June 20, 2025. As of June 30, 2025, our active swaps have a weighted average strike rate of 3.08%. 

Other

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.

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Long-Term Debt Strategy

The following table summarizes certain information about our debt obligations as of June 30, 2025 ($ in thousands): 

Debt Instruments(1)Balance (Gross of Retained Certificates and Unamortized Discounts)Balance (Net of Retained Certificates)Weighted Average