The Firm ▼
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.
Managing Director, Head of Capital Formation and Financing
Ralph Daloisio is a Managing Director and Head of Capital Formation and Financing at Amherst. He has more than 25 years of experience with a number of international banks in credit, capital markets, fixed-income investments, and banking.
Prior to joining Amherst, Ralph was a Managing Director at Natixis and was involved in divesting Natixis of its CMO investments business and structuring transactions to release regulatory capital, reduce risk exposure, and dampen P&L volatility related to the legacy proprietary investment portfolios of Natixis. He was also the Manager of the Structured Finance Group for Natixis, overseeing proprietary investment activity in ABS, MBS, and CDOs. Prior to Natixis, he served as the non-executive Chairman of the Board of the American Securitization Forum (“ASF”) and as Chairman of its Investor Committee. From 2004 to 2013, the ASF was a trade association representing all constituents of the U.S. Securitization Industry and it held the largest debt capital markets conferences annually. It is now known as the Structured Finance Industry Group, or SFIG.
Ralph has frequently spoken and moderated at Securitization and Covered Bond conferences in the U.S. and Europe, lectured on Securitization Portfolio Management, and has also been a lecturer on Financial Aspects of Mortgage Bonds for the Wharton School’s International Housing Finance Program.
Ralph holds a BSBA in Finance and Management from Georgetown University.
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.
Head of Marketing and Client Engagement
Scott Barnum is Managing Director and Head of Marketing and Client Engagement at Amherst Capital Management. In the role, Scott coordinates asset gathering, marketing, and client service. With the firm since inception, Scott was instrumental in launching the business and led the effort to staff and operationalize the overall platform. Scott is a member of the Executive Committee and the Commercial Real Estate Credit Committee.
Prior to this, Scott was a Managing Director in the Business Strategy and Development group at BNY Mellon Investment Management where he was focused on growth strategies, including the launch of Amherst Capital. In this role, Scott worked closely with Amherst Holdings to develop the business plan and successfully establish Amherst Capital in 2014. Scott has over 23 years of experience in financial services, strategy and consulting roles and previously held positions at Deutsche Bank, Morgan Stanley and Oliver Wyman.
Scott holds an MBA from the Kellogg School of Management at Northwestern University, and a BBA in Finance from the University of Wisconsin-Madison.
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.
Head of Asset Management
David Skoien is a Director and Head of Asset Management for the Commercial Real Estate (CRE) Lending business at Amherst Capital Management. In this role, Dave is responsible for developing the CRE lending policies and procedures, overseeing the management of the CRE loan portfolio and on-going reporting of portfolio performance.
Prior to joining Amherst Capital, Dave was a SVP, Portfolio Manager from 2014 – 2015 responsible for overseeing the CRE, Multifamily, Construction, and Lender Finance real estate portfolios at CapitalSource, a division of Pacific Western Bank. The portfolios included loans with aggregate commitments of ~$3.0B and various employment responsibilities required management of a ten employee department, maintaining compliance with regulatory requirements and corporate policies and procedures, and strategizing and implementing the resolution of non-performing loans and REO assets through various disposition and recovery strategies. Dave joined CapitalSource in 2005, and throughout his tenure managed senior and mezzanine CRE, construction, multifamily, lender finance, captive auto, resort, and healthcare real estate loans in the CRE, Lender Finance, and Healthcare RE portfolio management departments.
Dave has a BA in Economics from Duke University and over 10 years of CRE lending experience.
Head of Underwriting and Transaction Management
Brad Donaldson is a Director and Head of Underwriting and Transaction Management for the Commercial Real Estate (CRE) Lending Business at Amherst Capital Management. In this role, Brad is responsible for overseeing the underwriting of all new originations and managing the closing and diligence process.
Prior to joining Amherst Capital, Brad was a SVP, Originations at CapitalSource, a Division of Pacific Western Bank. In this role he was responsible for underwriting and managing the closing process for $1.8 billion of middle market real estate bridge loans. Brad joined CapitalSource in 2002 in the Commercial Real Estate Portfolio Management group and he was responsible for managing this group from 2006 – 2013.
Prior to joining CapitalSource, Brad was part of the treasury and accounting group at Mills Corporation, a regional mall REIT. Brad began his career with local accounting firms focused on serving real estate developers.
Brad holds an MBA from the University of Virginia’s Darden School of Business, and a BS in accounting from Radford University.
Alex Kahn is an analyst dedicated to the U.S. single family equity strategy at Amherst Capital Management.
Prior to joining Amherst Capital, Alex spent three years at HavenBrook Homes, most recently as an asset manager responsible for the firm’s portfolio of U.S. single family rental homes. Prior to this he served as a transition manager at Convergex, an agency-focused global brokerage and trading related services provider.
Alex holds a BS in finance and consulting and venture management from Emory University
Abbe Franchot Borok
Head of Originations, Commercial Real Estate Lending
Abbe Franchot Borok is a Managing Director and Head of Originations for the Commercial Real Estate (CRE) Lending business at Amherst Capital Management. In this role, Abbe is responsible for the origination of mortgage debt on all types of commercial real estate assets.
Prior to joining Amherst Capital, Abbe was a senior member of the CRE Lending team at CapitalSource, the national lending division of Pacific Western Bank. Abbe has broad experience in sourcing and underwriting commercial real estate debt, with a focus on interim senior loans backing transitional or value add business plans. Prior to CapitalSource, Abbe held various positions in marketing and brand management.
Abbe holds an MBA in finance from Columbia University and a BA in Communications from the University of Pennsylvania and is a member of several real estate organizations including ULI, CREFC, Bisnow, PEWIN and ICSC.
Head of Commercial Real Estate Lending
Christopher T. Kelly is a Managing Director and Head of Commercial Real Estate (CRE) Lending at Amherst Capital Management. In this role, Chris is responsible for all facets of Amherst Capital’s CRE middle-market lending business, targeting senior mortgage investments in all types of commercial and for-rent residential real estate assets.
A 28-year commercial real estate professional, Chris has extensive experience in real estate debt, mezzanine and equity markets. Prior to joining Amherst Capital, Chris was a Managing Director and Head of Real Estate at CapitalSource, a division of Pacific Western Bank, responsible for all facets of the national real estate lending business. Previously, he was a Managing Director and founding member of Natixis (formerly known as CDC Mortgage Capital), responsible for the origination of senior and mezzanine loans. Prior to this, Chris was with Lehman Brothers where he originated interim and permanent debt for the Fixed Income Group.
Chris spent more than eight years at Heller Financial in the real estate division, where he was involved in the origination of a wide array of senior and mezzanine debt for all types of commercial real estate. Additional roles during his tenure at Heller included the origination of equity investments in single family and multi-family developments, and construction asset management for several high profile New York City commercial and mixed-use developments.
Chris frequently speaks at industry conferences and events, including: Urban Land Institute, CREFC, University of Wisconsin-Madison, New York University, IMN, WREAA, CBRE Institutional Investors, AmeriCatalyst and Massey Knakal.
Chris is a graduate of the University of Wisconsin-Madison and a member of various real estate organizations including CREFC, ULI, ICSC and WREAA. He is a former board member for the Wisconsin Real Estate Alumni Association.
Our U.S. single family equity strategy is designed to provide an opportunity to generate attractive risk-adjusted returns by acquiring, renting and managing a portfolio of single family homes.
- Designed to address the market demand for stable, low volatility income-oriented returns
- Differentiated technology-led platform which includes market execution tools, proprietary underwriting system and real time portfolio risk management
- Access to a streamlined acquisition pipeline through a dedicated single family rental aggregator
Primary target markets
Our U.S. single family equity strategy targets assets in markets with potential for strong cash flow and home price appreciation, as of Q2 2018, our current target markets include:
(1) As of March 31, 2018. AUM includes gross assets managed in the single family equity and commercial real estate strategies, which includes $272 million and $66 million of leverage, respectively.
- Sean Dobson Chief Executive Officer and Chief Investment Officer
- Sandeep Bordia Head of Research and Analytics
- Scott Barnum Head of Marketing and Client Engagement
- Jeffrey Nutt Senior Trader MBS
- Marcus Wignell Head of Product Development
- David Skoien Head of Asset Management
- Christopher Kelly Head of Commercial Real Estate Lending
- Abbe Franchot Borok Head of Originations, Commercial Real Estate Lending
- Damon Pitler Portfolio Manager - Private Funds
- Brad Donaldson Head of Underwriting and Transaction Management
- Ralph Daloisio Managing Director, Head of Capital Formation and Financing
- Cornel Frunza Director, Investment Operations Manager
- Kevin Messett VP, Asset Management CRE Lending
- Karen Gemmett Head of Mortgage Backed Securities & Lead Portfolio Manager
- Banu Roso Chief Operating Officer
- Jason Rottinger Chief Compliance Officer