Single-family home REIT American Residential sets terms for $301 million IPO

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American Residential Properties, a REIT focused on single-family residential properties, announced terms for its IPO on Monday. The Scottsdale, AZ-based company plans to raise $301 million by offering 13.7 million shares at a price range of $21 to $23. At the midpoint of the proposed range, American Residential Properties would command a fully diluted market value of $731 million.

American Residential Properties, which was founded in 2008 and booked $3 million in sales for the 12 months ended 12/31/2012, plans to list on the NYSE under the symbol ARPI. Morgan Stanley, BofA Merrill Lynch, FBR Capital Markets and Jefferies are the joint bookrunners on the deal.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.



This article appears in: News Headlines , IPOs

Referenced Stocks: ARPI

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