Invitation Homes Makes Leadership Changes to Prepare for Growth

Adds Dedicated Build-to-Rent Team and Expands Scope for Several Leaders

Invitation Homes Inc. (NYSE: INVH) (“Invitation Homes” or the “Company”) today announced it is making several leadership changes to address continued growth and prepare for future expansion.

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Alicia MacPhee, Senior Vice President, BTR Asset Management (Photo: Business Wire)

“Our business continues to grow and mature, creating opportunities to build on our excellent operational foundation,” said Charles Young, President and Chief Operating Officer. “With our current growth trajectory and plans for continued expansion, it’s imperative that we’re organized in a way that enables us to scale using the full capabilities of our platform. As the nation's premier home leasing company, we rely on the strength of our people, and we appreciate the value these leaders bring to our company as well as to the systems, processes, and teams in their respective organizations and professions.”

The following changes will be in effect by the end of the year after a brief transition period.

Creation of BTR Team

Alicia MacPhee, Senior Vice President (SVP), Field Division, will move into the newly created role of SVP, BTR Asset Management. MacPhee’s tenure in all forms of real estate, including 18 years with Pulte Homes, will provide an excellent foundation for her to oversee and capture additional value in all aspects of the company’s BTR growth and operations. She will report to Scott Eisen, Executive Vice President (EVP) and Chief Investment Officer.

New Field Division Structure

The company will expand from its current two field divisions to three field divisions. With this change comes several organizational adjustments:

• Tim Lobner, EVP, Operations Support, will become EVP and Head of Field Operations. In this role, he will take responsibility for all three field divisions and will retain oversight of Rehabs, Turns & Maintenance (RTM). Lobner’s extensive experience in operations provides an excellent background for him to continue to enhance the company’s operational abilities, customer service, and team development. Lobner will continue to report to Young.
• Tracy Valenzuela will remain SVP, Field Division, for the West. She will report to Lobner. The company will begin a search for the two open field division leadership positions.
• Aaron Stone, SVP, Rehabs, Turns & Maintenance, will remain National RTM Lead and will expand responsibility to include Procurement. He will continue to report to Lobner.

Enhancing the Resident Experience

The company is making adjustments in its organization to continue its focus on providing an exceptional resident experience.

• Phil Yi, SVP, Marketing, will become SVP, Head of Marketing and Resident Experience. He will continue to lead the company’s Marketing efforts and will add responsibility for value-add services as part of the full resident experience. Yi also will take on additional responsibility as the Head of Resident Experience with a focus on enhancing the customer care experience. He will continue to report to Young.
• Paul Mauk, SVP, Portfolio Development, will continue to lead the company’s value-add services and will now report to Yi. This change will provide a clearer line of sight between the development of value-add services and the resident experience.

Enterprise-wide Data Analytics and Revenue Management

Garret Van Parys, currently Vice President, Analytics & Operations Planning, will become SVP, Enterprise Analytics and Revenue Management. Van Parys has revolutionized the way the company’s Operations team uses analytics to drive improvements in the business, and in this new role he will expand that approach enterprise-wide in order to enhance financial performance and competitive positioning. He will continue to report to Young.

About Invitation Homes

Invitation Homes, an S&P 500 company, is the nation's premier single-family home leasing company, meeting changing lifestyle demands by providing access to high-quality, updated homes with valued features 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 providing homes where individuals and families can thrive and high-touch service that continuously enhances residents' living experiences.

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