American Residential Properties, an internally managed REIT focused on leasing single-family residential properties, raised $288 million by offering 13.7 million units at $21, the low end of the range of $21 to $23. American Residential Properties plans to list on the NYSE under the symbol ARPI. Morgan Stanley, BofA Merrill Lynch, FBR Capital Markets and Jefferies acted as lead managers on the deal.
