DALLAS, Oct. 2, 2017 /PRNewswire/ -- Invitation Homes Inc. (NYSE: INVH) ("Invitation Homes" or the "Company") today announced an estimate of the damages believed to have been incurred as a result of Hurricane Irma.
"First and foremost, our thoughts and prayers are with those impacted by the storm," said John Bartling, Invitation Homes' President and CEO. "We are fortunate that Invitation Homes' properties primarily incurred only relatively minor wind damage as a result of Hurricane Irma. I am proud of the way our team has responded to this wide-ranging storm and quickly moved to provide assistance to our residents and impacted communities. We are especially appreciative of our maintenance crews and local vendors who were quick to respond to resident needs in the aftermath of the hurricane."
The Company's current assessment is that approximately 30 percent of its 23,449 homes in Florida and Atlanta sustained minor damage, primarily limited to roofing, fencing, and landscaping issues. A total of five homes incurred severe damage. The Company estimates that damages caused by Hurricane Irma totaled $14 to $17 million, a portion of which may be recoverable through insurance policies that provide coverage for wind, flood, and business interruption, subject to deductibles and limits.
The company does not own homes impacted by Hurricane Harvey.
About Invitation Homes:
Invitation Homes is a leading owner and operator of single-family homes for lease, offering residents high-quality homes in desirable neighborhoods across America. With nearly 50,000 homes for lease in 13 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, "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.
Investor Relations Contact:
Greg Van Winkle
Phone: 844.456.INVH (4684)
Media Relations Contact:
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SOURCE Invitation Homes Inc.