American Homes 4 Rent has expanded its portfolio with the acquisition of 900 homes for $126 million from a Connecticut real-estate investment firm.

The Agoura Hills company, the nation’s largest publicly traded landlord of single-family homes, bought the homes in Arizona, Colorado, Georgia, North Carolina,Tennessee and Texas from Ellington Management Group of Old Greenwich.

“We are pleased to acquire these well-located, high-quality homes that are in our markets,” said Chief Executive David P. Singelyn. “We expect to move quickly to seamlessly integrate these homes and realize the resulting synergies as we continue to grow our business.”

The company paid $74.4 million in cash and assumed 51.6 million in debt that matures on July 1, 2019 and carries 4.1 percent annual interest. That works out to about $140,000 a property.

American Homes owned 30,877 single-family properties in 22 states as of Sept. 30.

Shares closed up 33 cents, or nearly 2 percent, to $17.36 on the New York Stock Exchange.


LTC Properties Inc. has opened a 48-unit memory care facility in Colorado through its partnership with Anthem Memory Care.

The Westlake Village real estate investment trust, which specializes in health-care properties, opened Chelsea Place, a $9.8 million facility in the Denver suburb of Aurora. It will be run by Anthem Memory Care, a Lake Oswego, Ore. operator of facilities for patients with memory impairment.

Anthem already operates two LTC memory-care communities in Littleton, Colo. and the partnership plans to open facilities in the Chicago area. In December, LTC announced it was raising $24.5 million through a private offering to fund growth of its portfolio.

LTC on Friday also declared a 17-cent monthly cash dividend for the first quarter of 2015 payable on Jan. 30, Feb. 27 and March 31, respectively, to stockholders of record on Jan. 22, Feb. 19 and March 23.

Shares closed up 33 cents, or nearly 1 percent, to $43.55 on the New York Stock Exchange.