May 2019 | Dallas, Texas – The press release was issued today by Invitation Homes via PR Newswire. Invitation Homes Inc (NYSE: INVH), the nation’s premier single-family leasing company, and RealFoundations, one of the world’s foremost providers of consulting and managed services for the real estate industry, have completed a comprehensive, year-and-a-half-long project to transform Invitation Homes’ world-class operating model following its 2017 merger with Starwood Waypoint Homes.
“Following our merger, Invitation Homes set out to bring the best practices, technologies and personnel together to produce a company with an unparalleled ability to serve residents, realize synergies and achieve value for shareholders. We’re delighted to have successfully completed the integration that is making those goals a reality.”
— Dallas Tanner, President and Chief Executive Officer, Invitation Homes
Invitation Homes and RealFoundations jointly transitioned the merged entity to a new version of Yardi, established a project management office to define and execute the integration work, and created a change management team to coordinate communication and training. Together, the companies’ efforts accelerated and even surpassed the achievement of synergy targets.
“Combining two companies into one larger and higher-functioning entity is never an easy undertaking. Invitation Homes recognized the complexity early on and retained us to assist. We are honored to have been a part of this transformational project which melded the best of both operations into one scalable platform while achieving at least $54 million in synergies, all under an aggressive merger timeline.”
— Phillip McCorkle, Enterprise Managing Consultant, RealFoundations
Now post-integration, Invitation Homes benefits from a new, unified, scalable operating platform that enables highly efficient resident management and portfolio accounting. The company is better positioned to enhance the resident experience and pursue business growth and expansion.
“RealFoundations has been indispensable to us throughout the merger integration process, which offered Invitation Homes a unique opportunity to improve resident service, create operating efficiencies, establish unified policies and procedures, and increase scale. The firm has expertly guided us through the complex process of assessing accounting and technology needs for the combined organization and then building an industry-leading platform to support operations and build value today and in the years ahead.”
— Charles Young, Executive Vice President and Chief Operating Officer, Invitation Homes
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About Invitation Homes
Invitation Homes is a leading owner and operator of single-family rental homes, offering residents high-quality homes across America. With over 80,000 homes for lease in 17 markets across the country, Invitation Homes is meeting changing lifestyle demands by providing residents access to updated homes with features they value, such as close proximity to jobs and access to good schools. The company’s mission statement, “Together with you, we make a house a home,” reflects its commitment to high-touch service that continuously enhances residents’ living experiences and provides homes where individuals and families can thrive.
About RealFoundations
RealFoundations (RF) is the world’s foremost professional services firm focused solely on the real estate industry. Through our delivery of Management Consulting and Managed Services, we help companies that develop, own, operate, service or invest in real estate make better, more profitable decisions. We are proud partners to over 500 real estate companies around the globe, providing accelerated solutions that solve some of real estate’s most complex challenges. We Make Real Estate Run Better.
