An Austin, Texas, real-estate investment company has expanded its rental-home presence in Forsyth by buying 32 properties, according to county Register of Deeds filings Monday.
Amherst Holdings LLC, through affiliate BAF I LLC, paid a combined $3.77 million for 31 single-family rental homes in Winston-Salem and one in Walkertown.
The sellers were affiliates of Weidl Properties LLC of Winston-Salem.
The properties were bought in four transactions: $1.65 million for 14 homes, $1.05 million for nine homes, $600,000 for five homes and $472,000 for four homes.
In October 2018, Amherst affiliates paid $16.35 million to buy 111 single-family rental homes in Forsyth.
That transaction involved 74 properties in Winston-Salem sold, along with 25 in Kernersville, four in Clemmons, three in Pfafftown, two each in Lewisville and Rural Hall, and one in Walkertown.
In April 2019, Amherst affiliates paid $2.73 million to buy 17 homes in the Triad, including 12 in Forsyth. There were nine in Winston-Salem and one each in Pfafftown, Rural Hall and Walkertown.
Amherst Holdings’ residential platform has applied a buying and selling strategy nationwide in recent years.
For example, Amherst Residential LLC said in February 2020 it paid $2.3 billion to buy rental-home competitor Front Yard Residential Corp.
Overall, Amherst manages more than 16,000 single-family homes in the Southeast and Midwest through Main Street Renewal LLC, a wholly owned subsidiary that acquires, repairs and manages properties.
Industry observers consider Amherst as a mid-sized player, compared with Blackstone, American Homes 4 Rent and Colony/Starwood in what Fortune magazine valued as the $45 billion institutionally owned subcategory of the real-estate industry.