The information contained on this website is intended for the use of United States investors only, and is not intended for distribution to, or use by, any person or entity in any jurisdiction or country where such distribution or use would be contrary to law or regulation or which would subject Amherst Capital Management LLC ("Amherst Capital") to any registration or other regulatory requirement within such jurisdiction or country.

Copyright/Trademark

The entire contents of this website, including images, text and "look and feel" attributes, are copyright ©2021 by Amherst Capital. All rights reserved. If the viewer downloads or prints a hard copy of the individual pages and/or sections of the website, the viewer agrees not to remove any copyright or other proprietary notices. Any downloading or otherwise copying from this website will not transfer title to any software or material to anyone. The viewer may not reproduce (in whole or in part), transmit (by electronic means or otherwise), modify, link info or use for any public or commercial purpose this Web site without the prior written permission of Amherst Capital.

Disclaimer of Warranty/Limitation of Liability

The information on this website is provided "as is" and may not be current or complete. Amherst Capital reserves the right to change the contents of this website, or the products and services described herein, at any time without notice. Neither Amherst Capital nor its affiliates make any representation about the accuracy or completeness of the information contained herein or its suitability for any particular purpose, and Amherst Capital and its affiliates expressly disclaim, to the fullest extent of the law, any warranty of any kind with respect to such information and any duty to update such information. Neither Amherst Capital nor its affiliates nor any of their respective directors, officers, employees, or suppliers, shall be liable for any loss or damage, direct or consequential, incurred as a result of any use of or reliance on this web site or any information contained herein. Please contact Amherst Capital to verify any of the information contained herein.

Terms of Use

This page states the Terms of Use and Disclaimer and Limitation of Liability (collectively "Terms of Use") under which you may use this website. Please read this page carefully. If you do not accept the Terms of Use stated here, do not use this website and service. By using this website, you are indicating your agreement with and acceptance to be bound by the Terms of Use. Amherst Capital retains the right to make changes to this web site and the Terms of Use, Trademarks and Copyright, and Commitment to On-line Privacy at any time. You are bound by any such revisions and should therefore periodically visit this page to review the current Terms of Use that bind you. This website is controlled by Amherst Capital from its offices within the State of New York, United States of America. It can be accessed from all 50 states, as well as from other countries around the world. As each of these places has laws that may differ from those of New York, by accessing this website both you and Amherst Capital agree that the statutes and laws of the state of New York, without regard to any conflict of law principles, will apply to all matters relating to use of this website. Amherst Capital is an investment adviser registered under the Investment Advisers Act of 1940 with the U.S. Securities and Exchange Commission. This website is not a solicitation for Amherst Capital's investment management services to persons residing in a jurisdiction in which Amherst Capital is exempt from registration, notice filing and/or fee requirements and in which registration, a notice filing and/or payment of a fee would be required in order to engage in solicitation activities with respect to such persons. Amherst Capital makes no representation that materials on this website are appropriate or available for use in other locations, and accessing them from territories where their contents are illegal is prohibited. Those who choose to access this website from other locations do so on their own initiative and are responsible for compliance with all applicable laws. The use of this website is a privilege. Amherst Capital reserves the right to suspend that privilege on an individual basis for any reason at any time in its sole discretion. Contact Amherst Capital for more information to assist you in making a more informed investment decision.

Disclaimer and Limitation of Liability

The material accessed at this website is general information regarding available products and services of Amherst Capital. Nothing contained in this website shall constitute the provision of investment advice or an offer to sell, or a solicitation of an offer to buy, or a recommendation to buy or sell any security. By accessing any areas of www.amherstcapital.com, you agree that use of this website is at your own risk. Neither Amherst Capital, nor its affiliates, officers, directors, employees, agents, or other parties involved in creating and delivering this website's contents make any warranty as to the accuracy, reliability, timeliness or completeness of this information, either in general or as to a particular security, and you should not rely upon it. In using this website, you agree that the information and services are provided "as is," "as available" without warranties of any kind, either expressed or implied, including but not limited to warranties of title or implied warranties of merchantability or fitness for a particular purpose. Amherst Capital also assumes no responsibility, and shall not be liable for, any damages to, or viruses that may infect your computer equipment or other property on account of your access to, use of, or browsing in the website, or your downloading of any materials, data text, or images from the website. You further agree that Amherst Capital, and any other parties involved in creating and delivering this website's contents, have no liability for direct, indirect, incidental, punitive, or consequential damages with respect to the information, services, or content contained on or otherwise accessed through this website.


Head of Commercial Real Estate Strategies

David Schwarz

Head of Commercial Real Estate Strategies

David Schwarz is Head of Commercial Real Estate Strategies. In this role, David leads Amherst’s commercial real estate business, further developing the Company’s existing credit business while leveraging Amherst’s industry-leading expertise to launch new products and business segments across both real estate debt and equity. 


David joined Amherst from Colony Capital Inc. (now DigitalBridge Group Inc.), where he served most recently as Managing Director and Head of Colony’s expansive Hospitality Platform. David oversaw all functions of the hospitality business, including acquisitions and management of a 245-property portfolio. In previous roles at Colony, David led investment activities for the firm’s series of opportunistic credit funds focused on distressed real estate opportunities. Additionally, David was a board member of RXR Realty, a Colony portfolio company.  
Prior to joining Colony, David served as a Principal at Warburg Pincus LLC focused on U.S. real estate opportunities and previously worked at the Carlyle Group.


David holds a Bachelor of Science degree in Economics with concentrations in Finance and Real Estate from the Wharton School of the University of Pennsylvania.


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Chief Financial Officer, Commercial Real Estate Debt

Brad Donaldson

Chief Financial Officer, Commercial Real Estate Debt

Brad Donaldson is the Chief Financial Officer for the Commercial Real Estate (CRE) Lending Business at Amherst Capital Management.  In this role, Brad is responsible for overseeing the accounting and finance platform as well as leading 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 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.   


U.S. Single-Family Rental: 2020 Institutional Activity


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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.


Chief Operating Officer, Investment Management

Gillian Cho

Chief Operating Officer, Investment Management

Gillian Sutton Cho is the Chief Operating Officer of Investment Management. In this role, Gillian is responsible for all investor-facing services and operations, and for growing assets under management for all Amherst strategies. In addition, she works with the investment banking, mortgage banking, portfolio management, asset management, and research teams to deliver the Amherst platform effectively as the business grows and diversifies.

Prior to her role at Amherst, Gillian was the Chief Operating Officer of Crow Holdings where she was responsible for building the corporate infrastructure to facilitate growth, driving operational effectiveness and efficiencies, and engaging in business development and capital raising activities.

Gillian spent the decade prior to that engaged in multi-family and mixed-use development in the Bay Area at Trammell Crow Residential and in New York at Extell Development Company. Gillian started her career at Bain & Company in their London and New York offices advising clients in the US, UK, and continental Europe on corporate strategy, organization, and operations.
Gillian obtained her bachelor’s degree from the University of Oxford and her MBA from Harvard Business School.


Chief Technology Officer

Todd Lawrence

Chief Technology Officer

Todd Lawrence is the Chief Technology Officer 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 18 years and held roles in network engineering, database design and administration, application development, development operations and infrastructure.


Transitional properties offer a nuanced opportunity, from a first-mortgage lender perspective


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1 - As of December 31, 2020.

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.


 

Strategy overview: 

Our public markets strategies cover commercial and residential mortgage backed securities

  • Provide investment advice with respect to $2bn1 in mortgage-related assets
  • Our seasoned team structures and manages bespoke portfolios for investors seeking alpha in the mortgage backed securities markets
  • Data is essential to MBS investments – Our differentiated technology2 blends rich asset level detail, quantitative capabilities and strong fundamental insights that provide a differentiated view into fundamentals driving asset performance
  • We believe these tools provide Amherst Capital an enhanced ability to identify value and opportunities within this large and diverse asset class

(1) As of December 31, 2020. AUM includes gross assets managed in the commercial real estate strategy.


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 $2.7  billion of assets1 across private credit and public markets.


Business Contacts


“Your Home’s Value May Have Soared Nearly 10% During the Pandemic”


The Firm