Hogan Lovells Advises American Homes 4 Rent in US$190 Million Offering of Preferred Shares

WASHINGTON, D.C., 6 May 2014 – Hogan Lovells today announces that a Corporate and Tax team advised American Homes 4 Rent, the nation’s largest publicly traded real estate investment trust (REIT) focusing on single-family rental homes, in its underwritten public offering of 5.50% Series C Participating Preferred Shares. The offering, and a concurrent private placement, raised total gross proceeds of approximately US$190 million, before deducting underwriting discounts and estimated offering expenses.

The Series C Participating Preferred Shares, along with two previous series of participating preferred shares, include a relatively unique feature that positions investors to potentially benefit from home price appreciation in American Homes 4 Rent’s top 20 markets, as determined by the Federal Housing Finance Agency's House Price Index. The shares will be listed on the New York Stock Exchange (NYSE) under the symbol "AMHPRC."

Since November 2012, Hogan Lovells has represented American Homes 4 Rent in more than US$4.2 billion of capitalization transactions (including nearly $2.6 billion in equity offerings of common and preferred shares) and an US$800 million credit facility.

American Homes 4 Rent (NYSE: AMH) is a Maryland REIT focused on acquiring, renovating, leasing, and operating single-family homes as rental properties. As of March 31, 2014, the company owned 25,505 single-family rental homes in 22 states.

Corporate partners Jim Showen and Allen Hicks, along with Tax partners Prentiss Feagles and Cam Cosby, led the Hogan Lovells team with assistance from Corporate associates Philip Henry, Brandon Egren, and Brittany Brewer, and Tax associate Nicole Brown.

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