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Blackstone affiliates selling Invitation Homes common shares

Certain affiliates of private equity giant Blackstone Group Inc. launched a secondary offering of 44.0 million shares of Invitation Homes Inc.'s common stock.

Based on the company's closing stock price of $28.49 per share on Sept. 17, gross proceeds are expected to total approximately $1.25 billion.

The single-family rental real estate investment trust said it will not receive any proceeds from the share sale.

Morgan Stanley, Citigroup and Goldman Sachs & Co. LLC are the underwriters for the offering.