SANTA MONICA, Calif.--(BUSINESS WIRE)--
Colony American Homes (the “Company”) announced today that it has priced
its second securitization transaction. The transaction involves the
issuance and sale of single-family rental pass-through certificates that
represent beneficial ownership interests in a loan secured by 3,727
homes that will be sold to an affiliate of the Company at closing. The
Company anticipates gross proceeds of approximately $558.5 million from
the offering, with a duration-weighted blended interest rate of LIBOR
plus 164 basis points. The transaction is intended to close on or about
June 30, 2014.
The certificates will not be registered under the Securities Act of
1933, as amended (the "Securities Act"), and may not be offered or sold
in the United States absent registration or an applicable exemption from
registration requirements. The certificates will be offered and sold in
the United States in accordance with Rule 144A under the Securities Act.
This press release shall not constitute an offer to sell or the
solicitation of any offer to buy nor shall there by any sale of the
certificates in any jurisdiction in which such offer, solicitation or
sale would be unlawful under the laws of such jurisdiction.
About Colony American Homes
Colony American Homes (www.colonyamerican.com)
is a market leader in the acquisition, ownership, renovation, leasing
and management of single-family residential homes in the United States.
CAH owns and manages over 16,000 homes for rent in Arizona, California,
Colorado, Florida, Georgia, Nevada, North Carolina, and Texas. CAH was
formed in 2012 by Colony Capital, a leading global real estate
investment firm that has approximately $25 billion of assets under
management and has acquired approximately $54 billion of real estate
since its founding in 1991.
Owen Blicksilver Public Relations, Inc.
Source: Colony American Homes