Waypoint Homes Realty Trust Inc. has filed to come public. No terms for the offering have been set other than the offering size being up to $100,000,000 at the IPO, although those figures frequently change between the first filing and the IPO date. Waypoint will apply to have its common stock listed on the NASDAQ Global Market under the stock ticker “WAY.”

So far there is a small underwriting group. Joint book-running managers have been listed as Citigroup and Jefferies. No co-managers have yet been listed, but that also may change prior to the IPO.

Do you remember when Warren Buffett said he wished he had a vehicle to buy a million homes, administer and rent them, and then sell them? Waypoint Homes Realty Trust is a recently formed Maryland corporation that focuses on the acquisition, renovation, leasing, maintenance and management of single-family homes. Its initial target markets are shown to be San Francisco and the Bay Area, Sacramento, Los Angeles, Chicago, Atlanta, Phoenix, parts of Florida and elsewhere.

The company states that its principal objective is to generate attractive risk-adjusted returns for its stockholders over the long-term through capital appreciation and dividend growth. It said, “We generate revenue by leasing our portfolio of single-family homes and, from this revenue, expect to pay the operating costs associated with our business and any distributions to our stockholders.”

FULL IPO FILING

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