SCOTTSDALE, AZ—Colony Starwood Homes, thesingle-family rental REIT created from the merger ofStarwood Waypoint Residential Trust andColony American Homes, began trading on the NewYork Stock Exchange Wednesday under the SFR symbol. The combinedcompany said Tuesday evening that the merger had been finalized,creating a REIT with an asset value of approximately $7.7billion.

First announced this past September, the merger "establishesColony Starwood Homes as the premier single-family REIT, with thescale, balance sheet strength and operating capability to seek todeliver industry-leading returns on equity, supported by a stableand growing dividend, to our shareholders in the coming years,"says Barry Sternlicht, CEO and chairman ofStarwood Capital Group and co-chairman of SFR'sboard.

The board's other co-chair, Colony Capitalfounder Thomas J. Barrack Jr., says the combinedorganization expects "to unlock the strategic and operationalbenefits envisioned when we structured this transaction." SFR ownsand manages more than 30,000 homes nationwide, 90% of which areconcentrated in the combined organization's top 10 markets.