()(TPH), a homebuilder controlled by Barry Sternlicht’s Starwood Capital Group LLC, filed to raise as much as $187.2 million in its initial public offering, seeking to cash in on growing demand for new homes.

Tri Pointe and Sternlicht, who currently owns 83.5 percent of the company, are offering 11.7 million shares at $14 to $16 each, according to a regulatory filing today.