After months of rumors, Invitation Homes, Blackstone Group’s single-family rental operator, finally went public on Tuesday, raising more than $1.5 billion in its initial public offering.

Word of Blackstone planning to take Invitation Homes public first started to leak out in July 2016. Then, in early December, the company filed for its IPO, with the offering expected to come as early as January 2017.

Investors got a look at Invitation Homes’ prospectus just over a week ago, with the company disclosing that it planned to offer 77 million shares at an estimated price of between $18 and $21 per share.

And Tuesday evening, Invitation Homes priced its IPO at $20 per share, on the higher end of that range.

According to CNBC, selling 77 million shares at $20 per share would raise $1.54 billion in the IPO, slightly above the $1.5 billion that analysts expected.

CNBC also provided some color on just how big Invitation Homes IPO is.

From CNBC:

The stock market debut is the largest by a U.S real estate investment trust since Paramount Group raised $2.29 billion in 2014 and represents a big win for its private equity owner Blackstone Group and Jonathan Gray, who runs the firm's real-estate business.

Invitation Homes began trading on the New York Stock Exchange on Wednesday, under the symbol “INVH.”

In early trading, the stock traded above the IPO price of $20, checking in at $20.26 as of 10:58 a.m. Eastern.

Invitation Homes has more than 48,000 homes in its portfolio, making it the largest single-family rental operator in the U.S.

The company has properties in 13 markets, including Atlanta, Phoenix, Seattle, and Tampa, the company noted in its prospectus. Overall, Invitation Homes’ portfolio of homes is 95% occupied, the company said.

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