OAKLAND, Calif.–Starwood Waypoint Residential Trust (NYSE:SWAY) (the “Company”), a leading single-family rental (“SFR”) real estate investment trust (“REIT”), today announced its shareholders voted in favor of both the proposed merger with Colony American Homes and the proposed internalization of its management.
A majority of shares voting at the Special Meeting of Shareholders today voted in favor of the issuance of 64,869,583 common shares of the Company in connection with the merger of Colony American Homes, Inc. with and into a subsidiary of the Company.
A majority of shares voting at the Special Meeting (excluding certain interested common shares) also voted today in favor of the proposed internalization of the Company’s management through the acquisition of SWAY Management, LLC in exchange for the issuance to Starwood Capital Group Global, L.P. of 6.4 million common units of Starwood Waypoint Residential Partnership, L.P., which under certain circumstances are redeemable for the Company’s common shares on a one-for-one basis.
Subject to the satisfaction or waiver of customary closing conditions, the Company expects the transactions to close in early January 2016. Upon the closing of the transactions, the combined company will be re-named Colony Starwood Homes and will continue to be traded on the New York Stock Exchange under a new ticker symbol, “SFR”.
Additional details on today’s shareholder votes are contained in the Form 8-K filed today with the Securities and Exchange Commission.
About Starwood Waypoint Residential Trust
Starwood Waypoint Residential Trust (NYSE: SWAY) is one of the largest publicly traded owners and operators of single-family rental homes in the United States. Partnered with Starwood Capital Group L. P. (“Starwood Capital Group”), a leading private investment firm with a core focus on global real estate, Starwood Waypoint Residential Trust acquires, renovates, leases, maintains and manages single-family homes in markets that exhibit favorable demographics and long-term economic trends, as well as strengthening demand for rental properties. The company also invests in non-performing loans, and works with interested and qualified borrowers to find solutions to keep them in their homes. Starwood Waypoint Residential Trust is Reinventing Renting™ by building its business upon a foundation of respect for its residents and the communities in which it operates. Additional information can be found at www.starwoodwaypoint.com.
About Colony American Homes
Colony American Homes, Inc. is a market leader in the acquisition, ownership, renovation, leasing and management of single-family residential homes in the United States. As of September 30, 2015, CAH owned or managed approximately 19,000 homes, representing one of the largest portfolios of single-family homes in the United States. CAH was formed in 2012 by Colony Capital, Inc., a leading global real estate and investment management firm. Additional information can be found at www.colonyamerican.com.