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Invitation Homes unit pays down $80 million on securitization loan
Chicago, March 11 – Invitation Homes Inc. said wholly owned subsidiary 2017-2 IH Borrower LP prepaid $80 million of debt under the loan agreement with German American Capital Corp.
The voluntary repayment was applied in reverse sequential order to component F with an interest rate of Libor plus 306 basis points.
The IH 2017-2 securitization is a floating-rate loan with a weighted average interest rate of Libor plus 135 bps.
The voluntary prepayment reduced the company's IH 2014-SFR3 securitization to about $774.38 million, according to an 8-K filing with the Securities and Exchange Commission.
The company said it prepaid the loan using cash on hand.
Invitation Homes is a Dallas-based property manager.
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