July 19 Real estate investment trust American
Homes 4 Rent said it expects its initial public offering of
common shares to be priced between $16 and $18 per share,
raising as much as $793 million.
American Homes is among a host of home builders and REITs
looking to go public by taking advantage of an upswing in the
The company, which plans to sell 44.1 million common shares,
owns 14,210 single-family homes as of April 30 and had an
additional 1,425 properties in escrow that it expects to
acquire, it said in a filing. ()
The company is also looking to buy foreclosed homes and rent
them out to take advantage of rising rents in a recovering U.S.
Large institutional investors such as American Homes 4 Rent,
private equity firm Blackstone Group and real estate firm
Colony Capital will spend up to $10 billion over the next two
years to buy distressed single family homes, housing analysts
California-based American Homes started operations in
November to continue investing for AH LLC, which was founded by
the company's chairman and founder Wayne Hughes. Hughes was also
the founder and former chief executive of real estate investment
trust Public Storage.
The company expects to use the proceeds of the offering to
repay debt and acquire new single-family properties.
American Homes 4 Rent intends to list its Class A common
stock on the New York Stock Exchange under the symbol "AMH".
Goldman Sachs, BofA Merrill Lynch, JP Morgan and Wells Fargo
Securities are among the lead bookrunners for the IPO.