The Firm

“Stuck in the Middle: Smaller Boutique Hotels Are the Odd Ones Out”


“Finance Market Realigns as Rates Rise and CMBS Loses Share”


“Why Grocery-Anchored Retail Holds Just About the Only Appeal to Investors”


“Everything’s Pretty Rosy, but a Wee Correction Could Be Coming”


Single-Family Rentals Growing as an Institution-Owned Asset Class


NREI - Single-Family Rentals - JAN 2019 (Version 1.0)

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New York, NY
444 Madison Avenue
19th Floor
New York, NY 10022
(212) 593-6020
Austin, TX
5001 Plaza on the Lake
Suite 200
Austin, TX 78746
(512) 342-3000
Boston, MA
15 Broad Street
Suite 400
Boston, MA 02109
Vienna, VA
8045 Leesburg Pike
Suite #230
Vienna, VA 22182

2019 Market Outlook – U.S. Real Estate


2019 AMHERST Market Outlook v.Final (Version 1.0)

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1 - As of September 30, 2018 AUM amount includes $434 million of separately managed assets Amherst Capital began managing in March and excludes $4.3 billion of assets that Amherst Capital manages as dual officers of BNY Mellon Asset Management North America for which Amherst Capital will cease to manage following the transaction.

2 - Provided through Amherst InsightLabs (“AIL”).  Amherst Capital has an exclusive license with AIL in the asset management industry. AIL is an affiliate of Amherst Holdings, LLC.


(1) As of September 30, 2018. AUM includes gross assets managed in the commercial real estate strategy, which includes $98 million of leverage.


Amherst Capital is a real estate investment specialist offering traditional and alternative strategies to institutional clients in the public and private real estate credit markets. Amherst Capital manages $1.7  billion of assets1 across private credit, private equity and public markets.


Chief Technology Innovation Officer, Head of AIL Consulting

Todd Lawrence

Chief Technology Innovation Officer, Head of AIL Consulting

Todd Lawrence is the Chief Technology Innovation Officer and Head of AIL Consulting at Amherst. In this role, Todd works with stakeholders to develop innovative technology solutions that drive efficiency and optimize results for the Amherst business units. Todd brings two decades of expertise in IT infrastructure and software development to the organization, combining his technical acumen with a strategic, forward-looking mindset to address complex technology challenges.

Prior to this role, Todd served as SVP of Emerging Technologies for Amherst InsightLabs, CTO for Main Street Renewal and more recently, interim CTO for Bungalo Homes and has been with Amherst for over 17 years and held roles in network engineering, database design and administration, application development, development operations and infrastructure. 


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Private Debt Public Markets

Commercial Real Estate Lending

Commercial Real Estate Lending

Mortgage Backed Securities

Mortgage Backed Securities


Managing Director, Capital Formation and Financing

Craig Krandel

Managing Director, Capital Formation and Financing

Craig Krandel is a Managing Director for Amherst’s Capital Formation and Financing group. Craig has been involved in the sourcing of debt facilities for all of the Amherst entities over the past five years. Craig has over 30 years of experience in fixed income sales and trading and real estate related products.  

Prior to this role, Craig has been with Amherst for over 10 years in various roles. He was with the securities group covering banks, insurance companies and hedge funds across RMBS and CMBS products, led the Capital Markets group, and built the Single Family Rental business. Prior to Amherst, Craig spent more than 20 years in fixed income sales at Merrill Lynch, Credit Suisse First Boston. 

Craig has a BBA in Finance from The University of Texas at Austin.   


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Funds, Chief Financial Officer

Brian Streko

Funds, Chief Financial Officer

Brian Streko is the Chief Financial Officer of Amherst Capital’s funds. In this role, Brian is responsible for the funds’ financial accounting and reporting, and the coordination of audit, tax, compliance, structuring and investor reporting.

Prior to joining Amherst Capital, Brian served as the Chief Financial Officer for Chapman Consulting and Table 95 Hospitality, a large family office and restaurant asset manager, where he had oversight of the financial accounting, reporting, taxes, investor relations, Commercial Real Estate asset management and estate planning divisions for approximately 200 unique entities. Prior to this, Brian was a Principal at Investcorp International for eight years, where he worked as the Chief Financial Officer/Chief Operating Officer of the Real Estate group. Prior to Investcorp International, Brian was a Vice President/Director of Financial Accounting and Reporting at Capmark Investments, LP, overseeing both equity and debt funds with total AUM of approximately $10 billion. Brian initially began his career as an Auditor at Arthur Andersen.

Brian holds a BS in Accountancy from Villanova University and holds the CPA designation.


Chief Operating Officer

Banu Roso

Chief Operating Officer

Banu Roso is a Managing Director and Chief Operating Officer at Amherst Capital and is a member of the Executive Committee. In this role, Banu works closely with the CEO and other senior leaders in day-to-day management of the business, including financial / strategic planning and oversight of operations and business administration.

Prior to joining Amherst Capital, Banu spent 16 years at UBS, where she held leadership roles in sales management for UBS Asset Management Distribution in the Americas, generated new business through cross-divisional collaboration as part of UBS Business Development Group, and provided M&A advisory and financing services to consumer products clients in UBS Investment Bank. Banu started her career in management consulting as an Analyst at the Brattle Group and subsequently as a Consultant at Boston Consulting Group.

Banu holds an MBA in Finance from University of Pennsylvania’s Wharton Business School, MA in International Management from the Lauder Institute with a concentration in European Studies and German Language, and BA in Economics and German Studies from Mount Holyoke College, Massachusetts.


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