Colony American Homes plans to raise $245 million by offering 20 million shares during its initial public offering this week.

The real estate investment trust managed by Colony Capital, which is focused on leasing single-family homes, plans to sell its shares at a price range of $11.50 to $13.

Colony American Homes plans to list on the New York Stock Exchange under the symbol 'CAHS.' 

The joint bookrunners on the deal include Credit Suisse (CS)Morgan Stanley (MS) and Bank of America Merrill Lynch (BAC).