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Invitation Homes reaps $210M from sale of 708 Nashville, Tenn., homes

Invitation Homes Inc. sold 708 homes in Nashville, Tenn., to Canadian residential real estate company Tricon Capital Group Inc. for $210 million in gross proceeds.

The single-family rental real estate investment trust is also marketing for sale its remaining 87 homes in Nashville as it looks to exit that market.

The REIT plans to use proceeds from the Tricon deal mainly for debt prepayment.

Roofstock Inc. advised Invitation Homes on the transaction.