Koch Industries has reportedly bought a major stake in the "build-to-rent" business of Amherst Holdings, a Texas-based single-family rental company.
"Koch Real Estate Investments, a subsidiary of billionaire Charles Koch’s company, made a $200 million preferred-equity investment in Amherst Holdings LLC’s single-family rental business," report Gillian Tan and Patrick Clark.
Representatives of Koch and Amherst have yet to confirm the investment, but the reports credit "people with knowledge of the matter" for the news. The same sources say negotiations on the deal took place for more than a year, finally closing earlier this month.
"The deal could also provide synergies between Austin, Texas-based Amherst and Koch’s consumer and building products arm, which includes manufacturers of carpeting, glass, insulation, shingles, wallboard and lighting systems," explains the article on the business of the deal. "Amherst, which operates roughly 22,000 homes, could use Koch products when renovating homes or use the relationship to build a supply chain for developing purpose-built rental homes, one of the people said."
According to the article, Amherst's "build-to-rent" business model is gaining popularity with large investors.
FULL STORY: Koch Backs Amherst in $200 Million Bet on Single-Family Rentals
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