{"id":1004133090,"date":"2015-12-04T09:14:25","date_gmt":"2015-12-04T17:14:25","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004133090"},"modified":"2022-12-06T05:37:29","modified_gmt":"2022-12-06T13:37:29","slug":"american-homes-american-residential-become-one","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/american-homes-american-residential-become-one\/","title":{"rendered":"Single-Family Rental Giants Merge"},"content":{"rendered":"

By Barbra Murray, Contributing Editor<\/p>\n

\"American-Homes-4-Rent-final\"<\/a>

David Singelyn, CEO of American Homes and co.<\/p><\/div>\n

American Homes 4 Rent, the largest publicly-traded single-family rental company, is about to get larger. The company has agreed to acquire American Residential Properties in a stock and debt deal valued at $1.5 billion.<\/p>\n

Per the merger agreement, American Homes will issue approximately 38 million common shares and assume or repay roughly $800 million of American Residential debt. The transaction will leave American Residential shareholders with a 13 percent ownership stake in the combined company.<\/p>\n

Size matters. American Residential will add 8,938 residences to American Homes\u2019 stock of 38,377 single-family properties for a total of more than 47,000 homes in 22 states, and a geographic overlap that is expected to provide notable scale advantages.<\/p>\n

\u201cAmerican Residential Properties has a high-quality portfolio of homes which fit strategically in our markets, offering significant opportunities to capture further operating efficiencies on the combined platform,\u201d David Singelyn, CEO of American Homes, said in a prepared statement.<\/p>\n

Ultimately, the resulting entity will have an equity market capitalization of $5.5 billion.<\/p>\n

\"Stephen<\/a>

Stephen G. Schmitz and Laurie Hawkes, CEO and COO of American Residential<\/p><\/div>\n

American Homes and American Residential executives aren\u2019t alone in their support of the planned merger. Land and Buildings Investment Management L.L.C., which claims 7.4 percent ownership of American Residential, is also onboard. \u201cWe are pleased the Board of American Residential Properties has chosen to move forward with a transaction, a path which we believe represents a positive outcome for all shareholders. As we have publicly stated, ARPI has traded below its intrinsic value for some time and it was clear that a new path was needed to unlock the value imbedded in the company,\u201d Jonathan Litt, chief investment officer of Land and Buildings, said in a prepared statement.<\/p>\n

It\u2019s not all systems go just yet; the merger is subject to customary closing conditions as well as majority approval by American Residential stockholders. Stephen G. Schmitz and Laurie Hawkes, CEO and COO of American Residential, respectively, have already given the deal the thumbs up. If all goes as planned, the tax-free merger will close during first half of 2016.<\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

American Homes 4 Rent has agreed to acquire American Residential Properties in a stock and debt deal.<\/p>\n","protected":false},"author":969,"featured_media":1004133103,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21781,23891,21742],"tags":[],"class_list":["post-1004133090","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-corporate-real-estate","category-national","category-latest"],"acf":[],"yoast_head":"\nSingle-Family Rental Giants Merge - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/american-homes-american-residential-become-one\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Single-Family Rental Giants Merge\" \/>\n<meta property=\"og:description\" content=\"American Homes 4 Rent has agreed to acquire American Residential Properties in a stock and debt deal.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/american-homes-american-residential-become-one\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2015-12-04T17:14:25+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-06T13:37:29+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/12\/American-Homes-4-Rent-final.png\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"480\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Barbra Murray\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/american-homes-american-residential-become-one\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/american-homes-american-residential-become-one\/\",\"name\":\"Single-Family Rental Giants Merge - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/american-homes-american-residential-become-one\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/american-homes-american-residential-become-one\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/12\/American-Homes-4-Rent-final.png\",\"datePublished\":\"2015-12-04T17:14:25+00:00\",\"dateModified\":\"2022-12-06T13:37:29+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/d1edda962dd3af55af8a203870f9fc32\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/american-homes-american-residential-become-one\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/american-homes-american-residential-become-one\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/american-homes-american-residential-become-one\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/12\/American-Homes-4-Rent-final.png\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/12\/American-Homes-4-Rent-final.png\",\"width\":800,\"height\":480},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/american-homes-american-residential-become-one\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.commercialsearch.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Single-Family Rental Giants Merge\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/d1edda962dd3af55af8a203870f9fc32\",\"name\":\"Barbra Murray\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/9a36d5070adb56de135886aa49db0452b319180ff050dbd70770fd33a3e63774?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/9a36d5070adb56de135886aa49db0452b319180ff050dbd70770fd33a3e63774?s=96&d=mm&r=g\",\"caption\":\"Barbra Murray\"},\"url\":\"https:\/\/www.commercialsearch.com\/news\/author\/barbra-murray\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Single-Family Rental Giants Merge - Commercial Property Executive","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/american-homes-american-residential-become-one\/","og_locale":"en_US","og_type":"article","og_title":"Single-Family Rental Giants Merge","og_description":"American Homes 4 Rent has agreed to acquire American Residential Properties in a stock and debt deal.","og_url":"https:\/\/www.commercialsearch.com\/news\/american-homes-american-residential-become-one\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2015-12-04T17:14:25+00:00","article_modified_time":"2022-12-06T13:37:29+00:00","og_image":[{"width":800,"height":480,"url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/12\/American-Homes-4-Rent-final.png","type":"image\/png"}],"author":"Barbra Murray","twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/american-homes-american-residential-become-one\/","url":"https:\/\/www.commercialsearch.com\/news\/american-homes-american-residential-become-one\/","name":"Single-Family Rental Giants Merge - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/american-homes-american-residential-become-one\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/american-homes-american-residential-become-one\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/12\/American-Homes-4-Rent-final.png","datePublished":"2015-12-04T17:14:25+00:00","dateModified":"2022-12-06T13:37:29+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/d1edda962dd3af55af8a203870f9fc32"},"breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/american-homes-american-residential-become-one\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/american-homes-american-residential-become-one\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/american-homes-american-residential-become-one\/#primaryimage","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/12\/American-Homes-4-Rent-final.png","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/12\/American-Homes-4-Rent-final.png","width":800,"height":480},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/american-homes-american-residential-become-one\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"Single-Family Rental Giants Merge"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/d1edda962dd3af55af8a203870f9fc32","name":"Barbra Murray","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/9a36d5070adb56de135886aa49db0452b319180ff050dbd70770fd33a3e63774?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/9a36d5070adb56de135886aa49db0452b319180ff050dbd70770fd33a3e63774?s=96&d=mm&r=g","caption":"Barbra Murray"},"url":"https:\/\/www.commercialsearch.com\/news\/author\/barbra-murray\/"}]}},"jetpack_featured_media_url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/12\/American-Homes-4-Rent-final.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004133090","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/969"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004133090"}],"version-history":[{"count":1,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004133090\/revisions"}],"predecessor-version":[{"id":1004531508,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004133090\/revisions\/1004531508"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media\/1004133103"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004133090"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004133090"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004133090"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}