ARC Prices IPOs

Affordable Residential Communities Inc., Denver, has priced an initial public offering of common stock at $19 per share and of 8.25% series A cumulative redeemable preferred stock at $25 per share.Of the common stock, 22.25 million shares are being offered by the company and approximately 2.26 million shares are being offered by stockholders, ARC said. The common stock was scheduled to begin trading on the New York Stock Exchange Feb. 12 under the symbol "ARC," and the preferred stock was expected to be listed within 30 days under the symbol "ARC Pr A." The joint book-running managers of both stock offerings are Citigroup Global Markets and Merrill, Lynch, Pierce, Fenner & Smith.