American Homes 4 Rent raises US$705.9 million from public offering

By IVCPOST Staff Reporter

Jul 31, 2013 09:16 PM EDT

American Homes 4 Rent announced that they were able to raise US$705.9 million though a previously announced initial public offering. American Homes 4 Rent announced that they were able to sell an estimated 44.1 million priced at US$16 each. Shares sold will be traded in the New York Stock Exchange under the ticker "AMH".

"While American Homes 4 Rent has the benefit of strong leadership under Hughes and a diverse portfolio, it's uncertain whether single-family owners can make money over the long term on par with other types of landlords", Dave Bragg, analyst for Green Street Advisors Inc.

American Homes 4 Rent is the real estate investment fund established by B. Wayne Hughes, the self-storage billionaire. American Homes is the second largest REIT involved in the US homes-for-rent industry after Blackstone Group LP. American Homes 4 Rent is set to go public during a time when investors are cooling their heels from the unstable real estate industry.  American Homes 4 Rent said that they are positive that they can lead and build an institutional real estate class the company's single family rental homes.

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