Amherst Agrees to Buy Landlord Front Yard for $2.3 Billion

Amherst Holdings is buying Front Yard Residential Corp., expanding its portfolio of single-family rental homes as Wall Street makes new bets that more Americans want a suburban lifestyle, but can’t get a mortgage.

Front Yard put itself on the block last year after settling with an activist investor. The landlord, which has more than 15,000 homes, is being acquired for $12.50 a share, according to a statement Tuesday. The deal is valued at $2.3 billion, including debt.