Amherst Residential buys 212 single-family rentals for $47.5M

HavenBrook Homes sold the portfolio in Broward and Palm Beach counties

A HavenBrook home in South Florida (Credit: HavenBrook Homes and iStock)
A HavenBrook home in South Florida (Credit: HavenBrook Homes and iStock)

HavenBrook Homes sold a portfolio of 212 homes in Broward and Palm Beach Counties for $47.5 million to a company tied to Amherst Residential.

Duluth, Georgia-based HavenBrook Homes sold the single-family home portfolio in two transactions for $224,000 per home, records show. The portfolio spanned the two counties, including homes in Fort Lauderdale, Pompano Beach, Miramar, Dania Beach, Pembroke Pines, West Palm Beach, Lake Worth and Jupiter.

Sign Up for the undefined Newsletter

HavenBrook owns low-priced rental homes across the country. In August, Front Yard Residential Corp. bought HavenBrook along with its portfolio of 3,200 rental homes for $485 million.

Austin, Texas-based Amherst Residential invests in single-family rental homes. Since 2012, the company has raised more than $4 billion of debt and equity capital, according to its website.

Single-family home portfolios have been trading in recent years, amid increased demand for rentals. Last year, a company tied to European real estate development and management firm Gram Group sold a portfolio of single-family rental homes in Miami-Dade, Broward and Palm Beach counties for $7.8 million. Exceptional Homes Restorations LLC, led by real estate investor, Joshua Wagschal, paid about $147,000 per property. The portfolio included 52 single-family homes and one four-unit multifamily building, mostly in Broward County. Two properties were in Miami-Dade and one was in Palm Beach County.

Recommended For You