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Blackstone affiliates selling 40 million Invitation Homes common shares

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Blackstone affiliates selling 40 million Invitation Homes common shares

Certain selling shareholders affiliated with private equity giant Blackstone Group LP launched a secondary offering of 40.0 million shares of Invitation Homes Inc.'s common stock.

Based on the single-family real estate investment trust's closing stock price of $25.41 per share, gross offering proceeds are expected to total approximately $1.02 billion.

The REIT said it is not selling any shares in the offering, and as such, it will not receive any proceeds.

Citigroup, BofA Merrill Lynch and Goldman Sachs & Co. LLC are the underwriters for the offering.