Invitation Homes and Starwood Waypoint Homes announced the signing of a definitive agreement to combine in a 100% stock-for-stock merger-of-equals transaction. The combined company will be headquartered in Dallas, Texas, and will maintain a presence in Scottsdale, Arizona. The combined Board is expected to have 11 directors, consisting of six directors appointed by Invitation Homes and five directors appointed by Starwood Waypoint Homes: Chairman, Bryce Blair, Current Invitation Homes Chairman; Fred Tuomi, Current Starwood Waypoint Homes Board Member, Starwood Waypoint Homes CEO; Richard D. Bronson, Current Starwood Waypoint Homes Board Member; Michael D. Fascitelli, Current Starwood Waypoint Homes Board Member; Jonathan D. Gray, Current Invitation Homes Board Member; Robert G. Harper, Current Invitation Homes Board Member; Jeffrey E. Kelter, Current Starwood Waypoint Homes Board Member; John B. Rhea, Current Invitation Homes Board Member; Janice L. Sears, Current Invitation Homes Board Member; William J. Stein, Current Invitation Homes Board Member; and Barry S. Sternlicht, Current Starwood Waypoint Homes Board Member, Chairman & Chief Executive Officer of Starwood Capital Group.