The coming public offering of Colony Capital LLC spinoff Colony American Homes could bring in more than $230 million.

Documents filed earlier this year estimated the offering could raise up to $100 million. But Securities and Exchange Commission filings now show Colony American Homes now plans to sell 20 million shares priced between $11.50 and $13, which would raise between $230 million and $260 million.

Colony American Homes, a real estate investment trust, owns nearly 10,000 rental homes in California and the Southwest. Those properties brought in rental income of more than $10 million in the first quarter of this year.

Colony American would be the second publicly traded REIT for Colony Capital, a private equity firm controlled by Los Angeles billionaire Thomas Barrack Jr. The first, Colony Financial Inc., owns real estate-related debt and equity investments and went public in 2009.