Tuesday , 27 September 2016
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New Rent House REIT Owns 30,000 Single-Family Homes

SCOTTSDALE, Ariz. – Starwood Waypoint Residential Trust and Colony American Homes have completed a merger, forming a REIT with 30,000 rental houses and a combined asset value of $7.7 billion.

The renamed firm – Colony Starwood Homes – will trade under the ticker symbol “SFR” on the New York Stock Exchange.

“The company owns approximately 9,000 homes in Florida, 5,700 in Georgia, 5,000 in Texas, and over 3,600 in California, further illustrating our unique market selection, scale and density,” said Fred Tuomi, CEO of Colony Starwood Homes. The company will maintain its existing “Waypoint Homes” consumer brand.

Thomas J. Barrack, Jr., Co-Chairman, added, “By combining these two leading organizations, with over 30,000 homes concentrated in our top 10 markets, we expect to unlock the strategic and operational benefits envisioned when we structured this transaction.”

Barry Sternlicht, Co-Chairman of the company said, “This transformative merger establishes Colony Starwood Homes as the premier single-family REIT, with the scale, balance sheet strength and operating capability to seek to deliver industry-leading returns on equity, supported by a stable and growing dividend, to our shareholders in the coming years.”

Jan. 6, 2016

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