American Homes 4 Rent, the housing landlord led by
Public Storage founder B. Wayne Hughes, is seeking to raise as much as $125
crore in a U.S. initial public offering. (IPO)
The real estate investment trust did not disclose the
number of shares or / the offering price in a regulatory filing yesterday. The
offering size is a placeholder amount used to calculate registration fees &
may change.
Operators of single-family rental homes are going
public, creating a new real estate asset class in a field once dominated by
small investors. There are 1.40 crore for-lease houses in the country with an
average price of $ 2,00,000, valuing the industry at about $ 2.8 trillion,
according to an April report from Goldman Sachs Group Inc. American Homes 4
Rent, based in Malibu, California, plans to use proceeds from the offering to
buy and renovate homes, it said in its filing.
Goldman Sachs, Bank of America Corp., JPMorgan Chase
& Co. and Wells Fargo & Co. are managing the offering. The company
plans to list on the New York Stock Exchange under the symbol AMH.
Colony American Homes Inc., a single-family rental
unit of Tom Barrack’s Colony Capital LLC, is scheduled to price its IPO today,
according to data compiled by Bloomberg. It filed plans last month to raise as
much as $ 26 crore as a REIT. Silver Bay Realty Trust Corp., a single-family
rental company based in Minnetonka, Minnesota, was the first to go public as a
REIT in December, followed by Scottsdale, Arizona-based American Residential
Properties Inc.
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