Invitation Homes has entered into a joint venture with Quarterra Group, a wholly owned subsidiary of Lennar Corp., Centerbridge Partners and other high-quality institutional investors.

As part of their agreement, Invitation Homes has acquired a minority equity interest in a portfolio of single-family homes for lease that are part of the Upward America joint venture. Upward America has selected Invitation Homes to provide management services to the 4,400 homes, which are located primarily in Florida, Texas and the Carolinas.

“[This partnership] is meeting the needs of families and individuals across the country,” says Stuart Miller, executive chairman and co-CEO of Lennar. “The shared build-to-rent vision between Lennar and Invitation Homes creates opportunities that