Amherst

What Amherst does

Amherst is a vertically integrated real estate investment, development, and operating platform founded in 1993 and headquartered in Austin, Texas. The company operates across three core business lines: Amherst Residential (single-family rental platform managing ~47,000 homes in 32 U.S. markets), an MBS platform (structuring and managing commercial and residential mortgage-backed securities portfolios via Amherst Capital Management LLC), and a commercial real estate lending business launched in 2016. Operational subsidiaries include Main Street Renewal (in-house property management), Bungalo (direct-to-consumer home sales through brokerage), and StudioBuilt (modular home manufacturing, with a Cuero, Texas facility).

Amherst generates revenue through multiple streams: investment management and performance fees on $16.4B AUM (as of September 30, 2025), property management fees and rental income across the SFR portfolio, transaction fees from Bungalo home sales, and project revenue from StudioBuilt modular construction. The firm's go-to-market combines enterprise institutional sales to pension funds, sovereign wealth funds, and family offices with B2C rental and home-purchase channels.

The platform is built on proprietary analytical models processing hundreds of data points on millions of assets, with more than $200M invested over the past decade in data and decision infrastructure. Koch Real Estate Investments is Amherst's largest institutional shareholder following a $165M follow-on equity investment in November 2025 (in addition to a $200M preferred-equity investment in 2020). The firm employs 1,000+ personnel globally across operations in the U.S., India (Mumbai Merchant Banking extension), and Costa Rica.

Name

Amherst

Legal name

The Amherst Group LLC

Website

https://amherst.com

Company type

Private

Founded year

1993

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Amherst is a vertically integrated real estate investment and development platform founded in 1993, managing $16.4B AUM across single-family rentals (~47,000 homes in 32 markets), mortgage-backed securities, and commercial real estate lending for institutional and individual customers.

Ownership category

akta.pro rank

Product category

Residential Real Estate Investment & Management

NAICS

Portfolio Management and Investment Advice (523940), Portfolio Management and Investment Advice (52394), Other Activities Related to Real Estate (531390), Other Financial Investment Activities (5239), Other Financial Vehicles (52599)

SIC

Real Estate Dealers (For Their Own Account) (6532), Investment Advice (6282), Investors, Nec (6799), Real Estate Agents & Managers (For Others) (6531)

akta.pro primary industry

Real Estate Investment Advisory (Acquisitions/Dispositions, Capital Allocation) (BPAJANAA)

akta.pro secondary industries

Institutional Consulting RIAs (OCIO/Endowments/Foundations/Pensions) (FSAAACAG), Capital Markets Advisory (Equity Placement, JV & Recapitalization) (BPAJABAL), Residential Investment Property Brokerage (SFR/Small Multifamily) (BPAJAAAE)

Keywords

• Single-family rental
• Real estate investment management
• Commercial real estate lending
• Mortgage-backed securities
• Residential property management

Headquarters

HQ city

Austin

HQ country

United States

HQ region

North America

Offices5 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Operations, Personnel, Technology or R&D, Supply Chain, Infrastructure, Marketing or Sales

Revenue model

1. Single-Family Rental Management: Amherst operates single-family rental portfolios through Main Street Renewal, managing approximately 47,000 homes across 32 U.S. markets. Revenue is generated through property management fees, leasing services, and portfolio performance.
2. Property Sales (Bungalo): Through Bungalo, Amherst acquires, renovates, and sells homes directly to consumers via the Bungalo brokerage. Revenue is generated through transaction-based home sales.
3. Investment Management Fees: Amherst manages $16.4 billion of AUM (as of September 30, 2025) for institutional investors across SFR, CRE, and MBS strategies, generating management and performance fees.
4. Modular Construction (StudioBuilt): StudioBuilt constructs modular homes at purpose-built facilities for sale or integration into rental communities, providing development revenue.

Go-to-market motion2 records

Distribution channels4 records

Marketing channels7 records

Core offering

Amherst is a vertically integrated real estate investment, development, and operating platform that acquires, finances, manages, leases, renovates, develops, and sells U.S. residential and commercial real estate assets on behalf of institutional investors. Its core offerings include single-family rental investment and operations (~47,000 homes across 32 markets), commercial real estate transitional lending, mortgage-backed securities portfolio management ($16.4B AUM), direct-to-consumer home sales via Bungalo, and modular home construction via StudioBuilt.

Product overview

Amherst is a vertically integrated real estate investment, development, and operating platform offering strategies across single-family residential, mortgage-backed securities, and commercial real estate. The platform consists of three core business lines: Amherst Residential (SFR) for rental homes, the MBS platform for securities investment management, and Amherst Capital for commercial real estate lending. Key operational sub-brands include Main Street Renewal (property management), Bungalo (home sales), and StudioBuilt (modular construction). The firm manages $16.4 billion in AUM across approximately 47,000 homes in 32 U.S. markets.

Differentiator

Problem solved

Functional benefit

Brands

• Main Street Renewal: Vertically-integrated property management company servicing single-family rental residents on the Amherst platform, operating in 32 markets across the U.S.
• StudioBuilt
• Bungalo
• Amherst Homes

Products and services

• Amherst Residential - Single-Family Rental Platform
• Main Street Renewal - SFR Property Management
• Bungalo - Direct-to-Consumer Home Sales Direct-to-consumer platform that acquires and renovates homes with thoughtful design elements and high-quality finishes, listing them for sale to homebuyers through the Bungalo brokerage as move-in ready homes.
• StudioBuilt - Modular Home Construction Modular homebuilding business utilizing offsite construction to create new housing supply at scale, operating a manufacturing facility in Cuero, Texas and partner studios across the Southeast to produce homes for sale or integration into rental communities.
• Amherst Capital - Commercial Real Estate Lending Commercial real estate lending business issuing transitional loans to creatively readapt existing assets, leveraging market mispricing of risk; managed by Amherst Capital Management LLC, an SEC-registered investment adviser.
• Amherst Mortgage-Backed Securities Platform Loan-level data-driven platform using proprietary models and real estate expertise to structure and manage bespoke commercial and residential mortgage-backed securities portfolios for institutional investors seeking alpha.

Quantifiable outcome

• 59.4K homes acquired, $10.8B value of homes acquired
• +3 more outcomes

Named customers3 records

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability2 records

Feature3 records

Scale indicators14 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Invitation Homes: Largest publicly traded single-family rental operator in the U.S. (~84,000 homes), directly comparable to Amherst's SFR acquisition, renovation, and property management model. Both serve institutional capital and individual renters with vertically integrated platforms.
• American Homes 4 Rent: Publicly traded SFR REIT (~59,000 homes) operating a vertically integrated acquisition, renovation, leasing, and property management platform. Highly comparable to Amherst Residential and Main Street Renewal in scale, strategy, and operating model.
• Progress Residential: Private SFR operator owned by Pretium Partners, managing a portfolio of ~80,000+ single-family rental homes. Directly comparable to Amherst in serving institutional investors with a vertically integrated SFR platform spanning acquisitions through property management.
• Pretium Partners: Alternative investment manager with deep U.S. housing exposure, including ownership of Progress Residential and SFR-focused funds. Closely comparable to Amherst's combination of investment management and operational SFR capabilities.
• FirstKey Homes: Institutional SFR operator managing a portfolio of ~40,000+ single-family rental homes. Comparable to Amherst in scale and in serving institutional capital through a vertically integrated SFR operating platform.

Broad incumbents

• Blackstone Real Estate: World's largest real estate investor with significant SFR exposure via Tricon Residential (acquired) and other vehicles. Overlaps with Amherst's institutional SFR strategy at scale and competes for institutional real estate capital allocations.
• Brookfield Asset Management: Global alternative asset manager with a major real estate franchise spanning residential, commercial, and credit strategies. Comparable to Amherst's institutional capital-raising model and multi-strategy real estate approach, though at far greater scale and breadth.
• Starwood Capital Group: Private alternative investment firm focused on real estate with a broad multifamily, single-family, and commercial strategy. Comparable to Amherst in combining direct real estate investment with institutional capital management.
• KKR Real Estate: Major alternative asset manager with a sizable real estate platform across residential, commercial, and credit strategies. Comparable to Amherst in raising and deploying institutional capital into U.S. real estate strategies, though at meaningfully larger scale.

Emerging players

• Cerberus Capital Management: Private alternative investment manager with significant SFR exposure (e.g., historical ownership of Front Yard Residential). Comparable as an institutional capital partner competing for similar SFR and MBS investment opportunities.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/amherstholdings
• LinkedInlinkedin.com/company/the-amherst-group

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Subsidiaries6 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Amherst