In just under a decade, Amherst Residential has expanded its portfolio to include more than 23,000 single-family rental homes and employed more than 650 individuals in 26 housing markets across the country.
Although Amherst’s success can be attributed to the hard work of each of its employees, the innovative strategies and guidance of both Christopher Avallone and Joseph Negri have taken the company to new heights.
Within the same year, Avallone’s leadership was responsible for the raising of more than $3 billion of debt and equity capital for the firm, including seven new institutional credit and equity investors.
Avallone’s key to success is simple — lead by example.
“Every business must be learned from the ground up and no task is too small, whether you’re one of our senior leaders or a new analyst,” Avallone said. “This extends to showing respect, appreciation and understanding to all of our partners, both internally and externally, so that everyone our team engages with each day can achieve his or her goals.”
“I believe that the opportunity to continually work with strong leaders and strong teams is invaluable, and I aspire to pay that forward by also being a strong advocate for the junior members of the Amherst family,” Avallone continued. “To me, a successful experience is if our entire team is proud of the platform we’ve built, proud of the goals we’ve achieved together and proud of the way we collaborated with our clients, counterparties and all team members.”
Negri has been with Amherst for nearly seven years, beginning his career as the vice president of investments for its residential main street renewal business. While in this position, Negri helped Amherst launch its single-family residential practice, aiding the company in its first acquisition of 20,000 homes in $4 billion worth of transactions.
Though Negri’s work ethic is responsible for his professional achievements, he claims his preparation for success began before he even entered the real estate industry.
“Growing up with a support structure that commanded hard work and accountability, I was taught at a young age that everything in life is earned,” Negri said. “My parents fostered an environment that promoted thoughtful decision making because big or small, all decisions matter.”
And Negri has spent his career making decisions that point him in the right direction. After all, success comes when preparation meets opportunity, according to Negri.
“I love my job and my passion for real estate has driven me to be a better observer, listener and learner so that I can improve every day to be prepared for every opportunity,” Negri said. “The last 11 years have been filled with early wake-up calls, late nights and working hard so distractions don’t derail my personal and professional progress toward achieving both personal and business goals.”
Like Avallone, Negri has displayed tenacity in a sector that often demands the nation’s best and brightest. As both of these Rising Stars continue to push the envelope, their accomplishments will truly impact the future of this thriving industry.