Company: INVH
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0001687229-25-000019
Chunk: 18

Company: Invitation Homes Inc.
Filing Date: 2025-05-01
Form: 10-Q
Item: Item 1
Chunk 18
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 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 

16

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

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 March 31, 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.

March 31,2025December 31, 2024Resident security deposits$184,190 $181,549 Tax deferred property exchange deposits27,044 47,551 Property taxes10,785 4,343 Collections7,931 7,365 Letters of credit2,396 2,495 Capital expenditures1,623 1,623 Special and other reserves274 276 Total$234,243 $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 model of accounting, as of March 31, 2025 and December 31, 2024:Number of Properties OwnedCarrying ValueOwnership PercentageMarch 31,2025December 31, 2024March 31,2025December 31, 2024Pathway Property Company(1)100.0%642590$109,052 $102,520 2020 Rockpoint JV(1)20.0%2,6052,60641,653 44,846 Upward America JV(2)7.2%3,7203,72037,340 37,809 FNMA(3)10.0%37438719,