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SFR Giants to Merge in $11B Stock Swap

The merger of Invitation Homes and Starwood Waypoint "creates the leading single-family rental company in the United States," says Fred Tuomi, who will be CEO of the combined company.

By Paul Bubny | paulbubny | Updated on August 10, 2017

Single-family rental home An Invitation Homes rental property in Jacksonville, FL.

DALLAS and SCOTTSDALE, AZ—Two of the single-family rental sector’s 800-lb. gorillas, Invitation Homes and Starwood Waypoint Homes, said Thursday they planned to combine in an all-stock merger of equals. The combined entity will operate under the Invitation Homes name, with a market capitalization of approximately $11 billion and a total enterprise value of around $20 billion.

“This merger creates the leading single-family rental company in the United States, which will be uniquely positioned to deliver exceptional service to residents, while also improving operating efficiency,” says Fred Tuomi, CEO of Starwood Waypoint, who will serve in the same capacity for the new entity. “That is a win-win for both residents and stockholders.

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