Waypoint Homes Realty Trust, a REIT focused on single-family residential properties, withdrew its plans for an initial public offering on Friday. The withdrawal was largely expected after Starwood Property Trust acquired Waypoint Homes in November 2013 and spun off the REIT's manager, Starwood Waypoint (NYSE:SWAY), in February. The Oakland, CA-based company was founded in 2013 and initially filed confidentially on April 9, 2013. Citi and Jefferies were set to be the joint bookrunners on the deal.
