Amherst Residential completes acquisition of 2,400 single-family rental properties

Amherst Residential has completed the acquisition of 2,400 single-family rental properties since October 2018 in several transactions valued at approximately $404.1 million in the aggregate. In the largest of these transactions, which closed in February 2019, Amherst Residential acquired 446 single-family rental homes for $103.3 million.

“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 Drew Flahive, president of Amherst Residential. “With the size, flexibility and attractive cost of capital associated with our scalable platform, we are uniquely positioned to capitalize on market fragmentation to aggregate bulk portfolios of single-family rental assets.”

The acquired properties are located in 43 metropolitan areas across 18 states nationwide, including Miami, Fla.; Greensboro/Winston Salem, N.C.; Atlanta, Ga.; Memph