Barrack’s Colony Files to Raise Up to $260 Million in Home IPO
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Thomas Barrack Jr.’s Colony American Homes Inc., which has bought almost 10,000 U.S. single-family rental houses since starting last year, filed to raise as much as $260 million in an initial public offering.
The Scottsdale, Arizona-based landlord, which is buying foreclosed homes and converting them into rentals, plans to offer 20 million shares at $11.50 to $13 each, according to a regulatory filing today. It had a portfolio of 9,931 homes as of the end of last month, in states including Arizona, California, Colorado, Delaware and Florida, the company said.