American Homes 4 Rent (NYSE: AMH) is a leader in the single-family home rental industry and "American Homes 4 Rent" is a nationally recognized brand for rental homes, known for high-quality, good value and tenant satisfaction. They are an internally managed Maryland real estate investment trust, or REIT, focused on acquiring, developing, renovating, leasing, and operating attractive, single-family homes as rental properties. As of March 31, 2021, they owned 53,984 single-family properties in selected submarkets in 22 states.
American Homes 4 Rent (NYSE: AMH) (the "Company") just announced that it has priced an underwritten public offering of 16,300,000 of its Class A common shares of beneficial interest, $0.01 par value per share ("Class A common shares"), of which 5,500,000 shares were offered directly by the Company, and 10,800,000 shares were offered, at the request of the Company, by the forward purchasers (as defined below) or their respective affiliates in connection with the forward sale agreements described below. The underwriters have been granted a 30-day option to purchase an aggregate of up to an additional 2,445,000 Class A common shares. The offering is subject to customary closing conditions and is expected to close on or about May 25, 2021.
In connection with the offering of the Class A common shares, the Company expects to enter into a forward sale agreement with each of JPMorgan Chase Bank, National Association and Bank of America, N.A. or their respective affiliates (who are referred to in such capacity individually as a "forward purchaser" and collectively, the "forward purchasers"), with respect to 10,800,000 Class A common shares covered by the offering. The forward purchasers or their respective affiliates are expected to borrow from third parties and sell to the underwriters 10,800,000 Class A common shares in connection with the forward sale agreements (or an aggregate of 13,245,000 shares if the underwriters exercise their option to purchase additional shares in full).
American Homes 4 Rent is positioned for continued growth under the guidance and leadership of the industry's top professionals. They have assembled experts with decades of experience in every facet of the real estate industry – from acquisition, renovation and construction to property management, leasing and maintenance. Their leaders deliver high-quality housing opportunities and customer experiences that create lasting value and healthy partnerships with their residents.
"We are committed to embracing the environmental, social and governance standards – consistent with AH4R's founding principles – that are the cornerstone of good business. We contribute to the well-being of the communities in which we operate through direct investments to rehabilitate and improve our homes and residential neighborhoods." David Singelyn, Chief Executive Officer and Trustee.
American Homes 4 Rent, the pioneer and leader in the single-family rental home industry, has an exhilarating and fluid start-up culture and the permanency of a well-founded corporation, rich with diversity. The company's culture of innovation, collaboration, and bold decision-making has led to their emergence as a thought leader in the space, the largest builder of new homes for rent, and a leading publicly traded REIT (NYSE: AMH). Their continue to attract, engage, develop, and retain top talent at American Homes 4 Rent.