Company: INVH
Filing Date: 2025-08-13
Form Type: 424B5
Source: 0001193125-25-179878
Chunk: 140

Company: Invitation Homes Inc.
Filing Date: 2025-08-13
Form: 424B5
Chunk 140
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 than 90 days after the day on which the REIT acquired the property and the property is used in a                                                                  
 trade or business that is conducted by the REIT, other than through an independent contractor from whom the REIT itself does not derive or receive any income or through a TRS. |

We will be subject to tax at the maximum corporate rate on any income from foreclosure property, including gain from the disposition of the foreclosure property, other than income that otherwise would be qualifying income for purposes of the 75% gross income test, less expenses directly connected with the production of that income. However, income from foreclosure property, including gain from the sale of foreclosure property held for sale in the ordinary course of a trade or business, will qualify for purposes of the 75% and 95% gross income tests. Any gain from the sale of property for which a foreclosure property election has been made will not be subject to the 100% tax on gains from prohibited transactions described above, even if the property would otherwise constitute inventory or dealer property. Asset Tests At the close of each quarter of our taxable year, we must satisfy the following tests relating to the nature of our assets:

| 1. | at least 75% of the value of our total assets must be represented by the following: |

| a. | interests in real property, including leaseholds and options to acquire real property and leaseholds                                                                                                                                   
 (including, for the avoidance of doubt, personal property leased with real property to the extent rents attributable to such personal property would be treated as rents from real property as described above under “—Income Tests”); |

| b. | interests in mortgages on real property or on interests in real property; |

| c. | stock in other qualifying REITs; |

| d. | debt instruments issued by publicly offered REITs; |

| e. | cash and cash items (including certain receivables); |

| f. | government securities; |

| h. | regular or residual interests in a Real Estate Mortgage Investment Conduit (“REMIC”). However, if                                                                                                                                                    
 less than 95% of the assets of a REMIC consists of assets that are qualifying real estate-related assets under U.S. federal income tax laws, determined as if we held such assets directly, we will be treated as holding directly our proportionate 
 share of the assets of such REMIC.                                                                                                                                                                                                                   |

| 2. | not more than 25% of our total assets may be represented by securities, other than