Colony American Homes announced terms for its initial public offering. 

The single-family residential real estate investment trust plans to raise $245 million by offering 20 million 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).