Invitation Homes has acquired ResiBuilt Homes, a build-to-rent developer focused on high-growth Southeast markets, in a deal the single-family rental REIT said will strengthen its development capabilities and support additional new-home supply for renters.
The Dallas-based company said it paid a contract price of $89 million for ResiBuilt, plus up to $7.5 million in potential incentive-based earn-out payments tied to third-party fee-build performance.
ResiBuilt, headquartered in Atlanta, develops single-family communities across Georgia, Florida, and the Carolinas. Founded in 2018, the firm has delivered more than 4,200 homes and built a reputation around construction quality, operational efficiency, and resident-focused community design, Invitation Homes said.
As part of the transaction, approximately 70 ResiBuilt associates—including co-founder and President Jay Byce—joined Invitation Homes. The team will continue operating under the ResiBuilt brand.
Invitation Homes said the purchase included 23 existing fee-building contracts and a pipeline of additional third-party fee opportunities that are not yet under contract. While the deal did not include land, Invitation Homes secured options to acquire roughly 1,500 lots, providing flexibility for future purchases. The company expects the transaction to be modestly accretive to its 2026 adjusted funds from operations (AFFO) per share.
Invitation Homes positioned the acquisition as a continuation of its build-to-rent growth strategy, which it said combines construction lending and development, with an emphasis on increasing attainable, high-quality housing in desirable markets.
ResiBuilt’s original parent company, RESICAP, will remain independent after the transaction. Invitation Homes said RESICAP will continue operating its build-to-rent and single-family rental joint ventures and related services businesses, but will be restricted from competing with ResiBuilt in ground-up build-to-rent construction.
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 of 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.”
ResiBuilt Co-founder and President Jay Byce
“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.”
RESICAP Chief Executive Officer Andy Capps
