SANTA MONICA, Calif.--(BUSINESS WIRE)--Colony American Homes (the “Company”) announced today that it has priced its third 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 3,879 homes that will be sold to an affiliate of the Company at closing. The Company anticipates gross proceeds of approximately $640 million from the offering, with a duration-weighted blended interest rate of LIBOR plus 188.8 basis points. The transaction is expected to close on or about June 11, 2015.
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 19,000 homes for rent across the United States. 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 $60 billion of real estate since its founding in 1991.