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American Homes 4 Rent Files For $1.25 Bln IPO

By RTTNews Staff Writer   ✉  | Published:  | Google News Follow Us  | Join Us
rttnewslogo20mar2024

American Homes 4 Rent, the real-estate investment trust, said it has filed with the U.S. Securities and Exchange Commission to raise up to $1.25 billion in an initial public offering. The company did not specify the number of shares to be sold and the price range for the proposed offering.

The Mailbu, California-based company plans to list on the New York Stock Exchange under the symbol "AMH".

The REIT intends to use offering net proceeds to continue to acquire and renovate single-family properties, including certain escrowed properties, and to repay indebtedness that have incurred or expect to incur under its credit facility.

Goldman Sachs, BofA Merrill Lynch, J.P. Morgan and Wells Fargo are the joint bookrunners on the deal.

The real-estate investment trust focuses on acquiring, renovating, leasing and operating single-family homes as rental properties. As of April 30, 2013, the REIT owned 14,210 single-family properties for an estimated total investment of $2.5 billion and had an additional 1,425 properties in escrow that it expected to acquire, subject to customary closing conditions, for an estimated total investment of $245 million.

For the three months ended March 31, American Homes reported a loss of $7.8 million, or $0.16 per share, compared with a year-earlier loss of $164,000, or $0.05 per share.

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