Amherst Holdings Single Family Residential Platform Completes 2017 Purchase and Sale Agreement with Altisource Residential, L.P. by Selling 3,465 Total Properties for Sale Price of $534.9 Million

Amherst Holdings, LLC  (“Amherst”) announced today that its Single Family Residential platform has completed the 2017 Agreement announced in March to sell up to 3,500 single family rental properties to Altisource Residential, L.P. (“Altisource Residential”), an operating partnership controlled by Altisource Residential Corporation (NYSE: RESI), a publicly traded REIT. In total, 3,465 single family properties were sold in 2017 for an aggregate sale price of $534.9 million.  Amherst Single Family Residential will remain the property manager for the 3,465 properties through its subsidiary, Main Street Renewal, LLC, a vertically-integrated property acquisition, repair, and management business that currently manages more than 16,000 single family rental properties in 17 states across the United States.