Portfolio of 4,200-Plus Rental Houses Sells for $652M

Christiansted, U.S. Virgin Islands—A massive portfolio of single-family rental houses—some 4,262 units in the South—has traded hands for $652 million. The seller was Amherst Holdings; the buyer Altisource Residential LP, an operating partnership controlled by Altisource Residential Corp., a publicly traded REIT headquartered in the USVI.