Altisource Residential Corporation Announces Acquisition of 1,957 Rental Homes; Rental Portfolio Now Exceeds 12,000 Properties
FRONT YARD RESIDENTIAL CORP (RESI)
Last front yard residential corp earnings: 2/28 07:30 am
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US:NYSE Investor Relations:
ir.altisourceresi.com/investor-relations
Company Research
Source: GlobeNewswire
CHRISTIANSTED, U.S. Virgin Islands, Nov. 29, 2017 (GLOBE NEWSWIRE) -- Altisource Residential Corporation (“RESI” or “the Company”) (NYSE:RESI) today announced that it has completed the acquisition of an additional 1,957 single family rental properties from entities sponsored by Amherst Holdings, LLC (“Amherst”) for an aggregate purchase price of $305.1 million. The transaction was the third and final closing under the Company’s previously announced Purchase and Sale Agreement (the “Purchase Agreement”), to acquire up to 3,500 single-family rental properties from Amherst. With the completion of this transaction, RESI now has acquired an aggregate of 3,465 rental homes from Amherst under the Purchase Agreement since March 2017. RESI’s rental portfolio now exceeds 12,000 homes. Consistent with the previous two closings under the Purchase Agreement, RESI received seller financing of 75% of the purchase price pursuant to two separate loan agreements, each with a term of five years and
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