trending Market Intelligence /marketintelligence/en/news-insights/trending/cd0z65ftyg055sgzg6ktja2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

In this list

Altisource Residential buys single-family rental portfolio in $652.3M seller-funded deal

IoT and AI Aid Critical Event Management to Battle COVID-19, but Deployment could Raise Privacy Concerns

Video

The Global Impact of COVID-19

COVID-19: The 451 Research Take

Australia And New Zealand Telcos Launch Special Packs Amidst COVID-19 Outbreak


Altisource Residential buys single-family rental portfolio in $652.3M seller-funded deal

AltisourceResidential Corp. purchased 4,262 single-family properties in aseller-funded transaction valued at $652.3 million, more than doubling the sizeof its single-family rental portfolio.

The company said the transaction widens its footprint inmarkets such as Florida, Georgia, Tennessee, Texas, North Carolina and SouthCarolina.

The seller financing for the deal, which made up 75% of thepurchase price, was provided under a loan agreement with up to a five-year termand a one-month LIBOR floating interest rate plus a fixed spread.

Main Street Renewal LLC will continue to manage theportfolio as a condition of the seller financing. The sellers wereAmherst Holdings LLC-backed investment funds.

Altisource Residential's other real estate and single-familyrental properties will remain under Altisource Portfolio Solutions SA'smanagement.

Altisource Residential also amended its master servicesagreement with Altisource Portfolio, in exchange for a waiver of AltisourcePortfolio's exclusivity provision for this transaction. The amended agreementprovides for a $60 million contingent liquidation fee in the event the REITresolves to liquidate at least 50% of its single-family rental portfolio managedby Altisource Portfolio.