Starwood-Backed TRI Pointe Homes Files for $172.5M IPO
December 27, 2012
TRI Pointe Homes, an Irvine, CA-based construction company backed by Starwood Capital Group, has filed for a $172.5 million IPO. Founded in 2009, TRI Pointe designs, constructs and sells single-family home communities, chiefly in the California market. Starwood infused $150 million of growth capital into the company in September 2010, looking to expand its footprint into northern California and other western states. Its newly created Colorado Division is set to open in the second quarter of 2013. TRI Pointe plans to list on the NYSE under the symbol TPH. Citigroup, Deutsche Bank and FBR will serve as joint book-runners on the deal.