Invitation Homes has acquired ResiBuilt Homes, a build-to-rent developer focused on high-growth markets in the U.S. Southeast, in a move the single-family rental REIT says will strengthen its ability to add new housing supply through development and “capital-light” partnerships.
The company said it paid a contract price of $89 million, plus up to $7.5 million in potential incentive-based earn-out payments tied to third-party fee-build performance.
Atlanta-headquartered ResiBuilt develops single-family rental communities in Georgia, Florida, and the Carolinas. Founded in 2018, the business has delivered more than 4,200 homes and is known for operational efficiency and resident-focused community design.
Invitation Homes said roughly 70 ResiBuilt associates—including co-founder and president Jay Byce—have joined Invitation Homes and will continue operating under the ResiBuilt brand.
The transaction includes 23 existing fee-building contracts and a pipeline of additional third-party fee opportunities not yet under contract. Invitation Homes said the acquisition is expected to be modestly accretive to its 2026 adjusted funds from operations (AFFO) per share.
No land was included in the deal, but Invitation Homes said it secured options to acquire approximately 1,500 well-located lots, providing optionality for future purchases.
Invitation Homes framed the acquisition as a continuation of the build-to-rent strategy it outlined at its November 2025 investor day, which emphasized a mix of construction lending and development to drive growth while supporting housing availability in markets with strong demand.
ResiBuilt’s original parent company, RESICAP, will remain independent following the transaction. RESICAP said it will continue operating its existing build-to-rent and single-family rental joint ventures, property management, land entitlement and development, maintenance, and renovation verticals, but will be restricted from competing with ResiBuilt in ground-up build-to-rent construction.
Support: Jones Day served as legal counsel to Invitation Homes. Alston & Bird and Zelman served as legal and financial advisors, respectively, to RESICAP.
KEY QUOTES:
“At our Investor Day in November 2025, we shared our long-term vision to create value through a dynamic BTR growth strategy that combines construction lending and development. Today’s announcement reflects months of thoughtful planning to advance that vision, and our acquisition of ResiBuilt is a key step forward. ResiBuilt’s best-in-class development expertise enhances our execution capabilities and expands our capacity to address one of the nation’s most pressing challenges: housing affordability. By adding supply in desirable markets and creating communities that families are proud to call home, we believe we can make a meaningful impact. We are excited to work with the ResiBuilt team to achieve these goals.”
Dallas Tanner, President and Chief Executive Officer, Invitation Homes
“Joining Invitation Homes is an exciting opportunity for our team and our business. We’ve spent years building a best-in-class operation focused on delivering quality homes for the single-family rental market. Becoming part of Invitation Homes allows us to build on that foundation and broaden our reach to better serve families seeking quality rental homes.”
Jay Byce, Co-founder and President, ResiBuilt
“We’re proud of what we’ve built with ResiBuilt and look forward to seeing it grow as part of Invitation Homes. As ResiBuilt begins this next chapter, RESICAP will continue operating as a separate business that is committed to our long-standing mission: delivering high-quality housing solutions and operational services across the SFR and BTR landscape.”
Andy Capps, Chief Executive Officer, RESICAP
