Amherst Residential Pays $404M for SFR Portfolio

Amherst Residential LLC of Austin closed on the purchase of 2,400 single-family rental properties, over several transactions valued at $404.1 million. The largest of the transactions involved the purchase of 446 SFR homes for $103.3 million.

The portfolio encompasses 43 metropolitan areas across 18 states, including Miami, FL; Greensboro/Winston Salem, NC; Atlanta, GA; Memphis, TN and Phoenix, AZ. The acquisition also gives Amherst a foothold in Salt Lake City, UT; Las Vegas, NV and Denver, CO.

The buyer continues to pursue acquisition opportunities, with the goal of acquiring more than 10,000 SFR houses by the end of 2019. “We see an opportunity for consolidation across the single-family residential market, and are focused on executing portfolio acquisitions that facilitate expansion into areas of high growth,” said Amherst Residential’s Drew Flahive.

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