ARIT Reports Private Stock Sale

American Residential Investment Trust Inc., the San Diego-based parent company of the American Mortgage Network wholesale mortgage bank, has announced the purchase of 1.1 million shares of ARIT stock by the D3 Family Funds at $9.50 per share.The purchase -- at an above-market price -- was privately negotiated and not made through an open market transaction, ARIT said. (The company's stock was trading below $9 per share on March 5.) ARIT also reported that its board of directors has appointed David Nierenberg to the board to replace John C. Rocchio, a general partner of TCW/Crescent Mezzanine LLC. Mr. Nierenberg is president of Nierenberg Investment Management Co., which manages the D3 Family Funds, four private investment partnerships based in Camas, Wash. ARIT can be found online at http://www.amerreit.com.