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Amherst Seeks More Than $1 Billion for Rental Houses

  • Firm recently raised $600 million for single-family fund
  • Wall Street firms renewing their interest in the asset class

Photographer: Chris Rank/Bloomberg

Amherst Holdings LLC is seeking to raise more than $1 billion to buy single-family rental homes as institutional investors show renewed interest in the young asset class, people with knowledge of the company’s plans said.

Amherst, led by Chief Executive Officer Sean Dobson, already operates more than 20,000 rental houses through its property management subsidiary, Main Street Renewal. The new fund has a term of more than 10 years, giving Amherst flexibility to manage its rentals for the long haul, one of the people said.