Blackstone Takes Its Rental Housing Operator Public

Invitation Homes, a single-family rental company under the Blackstone Group, went public Tuesday and earned more than $1.5 billion in its initial public offering, as HousingWire reports.

The company said a week ago that it planned to offer 77 million shares at between $18 and $21 apiece. Invitation Homes, which uses the symbol INVH on the New York Stock Exchange, is the largest single-family rental operator in the country with more than 48,000 homes.

The company has properties in 13 markets, including Atlanta, Phoenix, Seattle, and Tampa, the company noted in its prospectus. Overall, Invitation Homes’ portfolio of homes is 95% occupied, the company said.

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