A PYMNTS Company

US: Starwood Homes announces closing of $7.7 billion merger

By  |  January 6, 2016
Colony Starwood Homes, a leading single-family rental real estate investment trust, announced the completion of the merger between Starwood Waypoint Residential and Colony American Homes and the internalization of SWAY’s manager, forming a combined company with a combined asset value of approximately $7.7 billion.
The merger and the internalization were approved by SWAY’s shareholders at a meeting held on December 17, 2015. In connection with the merger, SWAY has been renamed Colony Starwood Homes and will trade under the ticker symbol “SFR” on the New York Stock Exchange effective January 6, 2016. The Company will maintain its existing “Waypoint Homes” consumer brand.

Barry Sternlicht, Co-Chairman of the Company’s Board of Trustees (the “Board”), 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.”

Full content: Businesswire

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.