The Amherst Single Family Residential has completed the acquisition of 671 single family rental properties from Broadtree Residential, a private real estate investment trust managed by Broadstone Real Estate, for approximately $78.3 million.
The acquired properties are located primarily in the Atlanta and southeast Florida markets.
“With the size, flexibility and attractive cost of capital associated with our platform, we are uniquely positioned to expand our portfolio of single family rental properties across many of the largest markets in the United States,” said Drew Flahive, president of Amherst Single Family Residential. “Single family rental properties continue to demonstrate strong performance, and we are excited to acquire this portfolio from Broadtree.”
Including the properties acquired in this transaction, the Amherst Single Family Residential platform has acquired more than 6,000 single-family rental properties in 2017 as part of the company’s strategy to invest institutional capital in target markets across the United States. Through subsidiary Main Street Renewal, a vertically-integrated property acquisition, repair, and management business, the Amherst Single Family Residential platform currently manages more than 17,000 single family rental properties in 18 states across the United States.
