Invitation Homes began in 2012 when Blackstone acquired Treehouse Group and Riverstone Residential. The company purchases distressed single-family properties to rent as affordable housing. In 2017, they merged with Starwood Waypoint Homes, expanding their portfolio significantly. Their business model focuses on acquiring homes in high-demand areas and providing professional management. The company serves renters across multiple markets through standardized leasing processes and maintenance programs. Invitation Homes operates as a real estate investment trust specializing in residential rentals.