Silver Bay buys American Home portfolio

TAMPA — An Atlanta company that rents single-family homes in several markets, including the Tampa Bay area, has sold its portfolio for $263 million.

Silver Bay Realty Trust Corp. purchased The American Home's assets for nearly $107,000 per building. The 2,460 houses are located in Florida, North Carolina and Georgia.

“The transaction will significantly expand Silver Bay's presence in Atlanta, Tampa, Charlotte and Orlando — key growth markets that exhibit strong economics and long-term rental demand,” says David Miller, Silver Bay's president and CEO, in a release.