Colony American Homes’ (CAH) American dream involves owning many, many homes. A real estate investment trust, or REIT, CAH acquires, owns, manages, and leases single-family homes in California, Georgia, Texas, and a handful of other states. Its portfolio comprises some 16,000 homes, including a portion owned through a joint venture with Fannie Mae. The company, formed in 2012 from assets owned by private equity firm Colony Capital, is externally managed by CAH Manager, LLC, and conducts business through CAH Operating Partnership L.P. Rival Starwood Waypoint Residential Trust agreed to acquire CAH in September 2015 for roughly $1.5 billion.