American Homes 4 Rent (AMH) prices $364 million equity offering.

American Homes 4 Rent (AMH) announced today that is has priced an upsized offering of 13 million common shares for gross proceeds of approximately $364 million.  The company said the proceeds would be used to refinance bank borrowings and fund portfolio growth, which in recent years has included significant investment in single-family development and related land purchases.

American Homes is one of the largest owner/managers of single-family rental properties with an aggregate 53,000 homes in 22 states.  As of June 30, 2020, AMH had a total market capitalization of approximately $13.4 billion.