The Firm represents affiliates of Blackstone Real Estate Partners in the formation of Invitation Homes, L.P., a national platform to purchase distressed single family homes and then refurbish, lease and maintain them in neighborhoods across the country. According to press reports, Invitation Homes has spent more than $2.5 billion on 16,000 homes to manage as rentals, making Invitation Homes the largest owner of single-family homes in the country. In connection with the formation of Invitation Homes, the Firm represented affiliates of Invitation Homes in a $600 million revolving credit facility with Deutsche Bank as administrative agent.
The Simpson Thacher team includes: Brian Stadler, Sean Crnkovich and Lindsay Thomas (M&A); Chris Brown, Brian Gluck, Shane Fuhrman and Fan Wei (Credit); Greg Ressa and Beatie Branch (Real Estate); Gregory Grogan and Jennifer Pepin (Executive Compensation and Employee Benefits); Nancy Mehlman, Danny Salinas and Jessica Garcia (Tax); and Jonathan Karen, Shannon O’Sullivan and Steve Homan (Funds).
