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NEW YORK--([ BUSINESS WIRE ])--Silver Bay Realty Trust Corp. (aSilver Baya), today filed a registration statement on Form S-11 with the Securities and Exchange Commission relating to a proposed initial public offering of its common stock (aIPOa). Silver Bay is a newly organized Maryland corporation focused on the acquisition, renovation, leasing and management of single-family rental properties for rental income and long-term capital appreciation.

Silver Bay will be externally managed by PRCM Real Estate Advisers LLC, which is a joint venture between an affiliate of Pine River Capital Management L.P. and Provident Real Estate Advisors LLC, a private capital management firm. An affiliate of Pine River also serves as the external manager of Two Harbors Investment Corp., a publicly traded REIT (NYSE: TWO). Concurrently with the IPO, Silver Bay will engage in formation transactions through which it will acquire an initial portfolio of single-family residential properties from entities associated with Two Harbors and Provident in exchange for equity interests in Silver Bay. Silver Bay intends to use the proceeds from the offering to purchase additional single-family properties in accordance with its acquisition strategy. Silver Bay intends to elect and qualify to be taxed as a REIT.

Credit Suisse Securities (USA) LLC will be a book-running manager for the proposed offering. When available, a copy of the prospectus for the above offering can be obtained from Credit Suisse Securities (USA) LLC, Attention: Prospectus Department, One Madison Avenue, New York, New York 10010 or by calling toll-free 1-800-221-1037 or by emailing [ newyork.prospectus@credit-suisse.com ].

A registration statement relating to these securities has been filed with the Securities and Exchange Commission, but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor may there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification thereof under the securities laws of any such state or jurisdiction.