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Amherst Trades SFR Portfolio in $652M Deal

NEW YORK CITY—For Amherst Holdings, the sale represents “a marquee transaction for our single-family rental business,” says CEO Sean Dobson, while for buyer Altisource Residential, the deal more than doubles the size of its current portfolio.

Single-family rental home An Amherst Residential single-family rental property in Jacksonville, FL.

NEW YORK CITY—In one of the single-family rental sector’s largest portfolio deals to date, Amherst Holdings LLC said Friday that it had completed the sale of a portfolio of 4,262 SFR properties to Altisource Residential LP for $652 million. The buyer is an operating partnership controlled by Altisource Residential Corp., a publicly traded REIT listed on the New York Stock Exchange as RESI.

The seller-financed deal more than doubles the size of RESI’s SFR portfolio and puts it on target to achieve its goal of 10,000 rental properties by the end of this year. It enhances the REIT’s presence in new and existing strategic target markets, including Florida, Texas, Georgia, Tennessee, North Carolina and South Carolina.

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Paul Bubny

Paul Bubny

Paul Bubny is managing editor of Real Estate Forum and GlobeSt.com. He has been reporting on business since 1988 and on commercial real estate since 2007. He is based at ALM Real Estate Media Group's offices in New York City.

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