Tricon Capital to buy Silver Bay Realty Trust in $1.4 bln deal
Canadian real estate private equity investor Tricon Capital Group has agreed to acquire Silver Bay Realty Trust Corp (NYSE: SBY), an owner and operator of single-family rental (SFR) homes in the United States. The all-cash deal reflects an enterprise value of US$1.4 billion, which includes an equity purchase price of about US$820 million. Toronto-based Tricon said the acquisition will create the fourth largest publicly-owned SFR company in the United States, with over 16,800 homes, and with a focus on the Sun Belt region and middle market. The deal is expected to close by the end of the second quarter.
28 February 2017•8 mins read
