Silver Bay Realty Trust Corp. (NYSE: SBY), or “Silver Bay,” a real estate investment trust that focuses on the acquisition, renovation, leasing and management of single-family properties, today announced the expected distribution by Two Harbors Investment Corp. (NYSE: TWO) of all 17,824,647 of the shares of common stock of Silver Bay held by Two Harbors, by way of a special dividend from Two Harbors to its stockholders. Two Harbors announced today that the special dividend is expected to occur on or about April 24, 2013 to common stockholders of Two Harbors of record at the close of business on April 2, 2013. Two Harbors received the shares in exchange for a portfolio of single-family properties as part of the formation transactions that closed simultaneously with Silver Bay’s initial public offering on December 19, 2012.
Silver Bay Realty Trust Corp.
Silver Bay Realty Trust Corp. is a Maryland corporation focused on the acquisition, renovation, leasing and management of single-family properties for rental income and long-term capital appreciation. Silver Bay owns single-family properties in Arizona, California, Florida, Georgia, Nevada, North Carolina, Ohio and Texas. Silver Bay intends to elect and qualify to be taxed as a REIT. Additional information can also be found on the company’s website:
This press release includes “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Actual results may differ from expectations, estimates and projections and, consequently, readers should not rely on these forward-looking statements as predictions of future events. Words such as “expect,” “target,” “assume,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believe,” “predicts,” “potential,” “continue,” and similar expressions are intended to identify such forward-looking statements. These forward looking statements involve significant risks and uncertainties that could cause actual results to differ materially from expected results. Factors that could cause actual results to differ include a failure by Two Harbors to distribute the shares as announced.