NEW YORK, Nov. 30, 2015 /PRNewswire/ -- Amherst
Capital Management LLC ("Amherst Capital"), a real estate credit
investment specialist and BNY Mellon Investment Management ("BNY
Mellon") boutique, today announced the addition of two seasoned
real estate finance executives to lead the development of its
Commercial Real Estate ("CRE") Lending business. Christopher T. Kelly was appointed Head of
Commercial Real Estate Lending, and Abbe Franchot was named Head of
Originations.
"We are thrilled to announce the launch of our CRE Lending
platform and expanded offerings on the alternative side of our
business," said Sean Dobson, CEO of
Amherst Capital. "Chris and Abbe are exceptional real estate
finance professionals and terrific additions to the Amherst Capital
team."
As Head of Commercial Real Estate Lending for Amherst Capital,
Chris is responsible for leading all facets of the CRE
middle-market Lending business, and targeting mortgage investments
in all types of commercial and for-rent residential real estate
assets. In this role, Chris will oversee the origination and
qualification of potential investment opportunities and drive the
underwriting process of CRE transactions, including cash flow
modeling, asset valuation and debt structuring, additionally, he
will provide oversight for Amherst Capital's overall CRE loan
portfolio performance and asset quality.
"The ability to participate in the initial growth and
development of a new private debt origination business for Amherst
Capital with the support of BNY Mellon and Texas Treasury
Safekeeping Trust Company presents a unique and compelling
opportunity," said Chris Kelly, Head
of Commercial Real Estate Lending at Amherst Capital. "We believe
that the combination of Amherst Holdings' deep mortgage expertise,
proprietary data and analytics with the strength of BNY Mellon's
infrastructure, places Amherst Capital in a sector-leading position
out of the gate."
Chris has 28 years of experience in real estate debt, mezzanine
and equity markets. Prior to joining Amherst Capital, he led the
national real estate lending business at CapitalSource, a division
of Pacific Western Bank, as a Managing Director and Head of Real
Estate.
As Head of Originations, Abbe will lead a team of originators
that will source investment opportunities. Abbe previously worked
alongside Chris at CapitalSource, where she was responsible for
providing debt solutions to CRE owners and investors nationwide as
a senior member of the originations team.
Amherst Capital's CRE Lending team will initially focus on
strategies providing interim floating rate debt for property
acquisitions or recapitalizations with a value-add or opportunistic
investment plan.
Notes to Editors:
About Amherst Capital Management
Amherst Capital
Management is a real estate credit investment specialist with
approximately $6.8bn[1] of
assets under management. Amherst Capital was established in 2015 as
a majority-owned subsidiary of Standish, a BNY Mellon Investment boutique
with a focus on fixed-income, and is minority-owned by Amherst
Holdings LLC. Amherst Holdings is not an affiliate of BNY Mellon.
Texas Treasury Safekeeping Trust Company is a founding seed
investor[2]. Amherst Capital offers traditional and
alternative real estate investment strategies to private and
institutional investors globally. Our investment strategies are
grounded in deep intellectual capital and one of the world's most
robust real estate datasets. For more information please visit
www.amherstcapital.com
About BNY Mellon Investment Management
BNY Mellon
Investment Management is one of the world's leading investment
management organizations and one of the top U.S. wealth managers,
with $1.6 trillion in assets under
management. It encompasses BNY Mellon's affiliated investment
management firms, wealth management services and global
distribution companies. More information can be found at
www.bnymellon.com
About BNY Mellon
BNY Mellon is a global investments
company dedicated to helping its clients manage and service their
financial assets throughout the investment lifecycle. Whether
providing financial services for institutions, corporations or
individual investors, BNY Mellon delivers informed investment
management and investment services in 35 countries and more than
100 markets. As of Sept. 30, 2015,
BNY Mellon had $28.5 trillion in
assets under custody and/or administration, and $1.6 trillion in assets under management. BNY
Mellon can act as a single point of contact for clients looking to
create, trade, hold, manage, service, distribute or restructure
investments. BNY Mellon is the corporate brand of The Bank of New
York Mellon Corporation (NYSE: BK). Additional information is
available on www.bnymellon.com. Follow us on Twitter @BNYMellon or
visit our newsroom at www.bnymellon.com/newsroom for the latest
company news.
All information source BNY Mellon as of September 30, 2015. This press release is
qualified for issuance in the US only and is for information
purposes only. It does not constitute an offer or solicitation of
securities or investment services or an endorsement thereof in any
jurisdiction or in any circumstance in which such offer or
solicitation is unlawful or not authorized. This press release is
issued by BNY Mellon Investment Management to members of the
financial press and media and the information contained herein
should not be construed as investment advice. Past
performance is not a guide to future performance. A BNY
Mellon Company.
[1] As of November 2,
2015, Amherst Capital provides investment advisory services
with respect to $6.8 billion assets
under management. This amount includes $6bn in assets pertaining to certain
discretionary multi-sector fixed income clients of our affiliate
Standish Mellon Asset Management Company LLC ("Standish"), for which certain Amherst Capital
employees provide advice acting as dual officers of Standish. In addition, discretionary
portfolios in the amount of approximately $460mm are managed by
certain of our employees in their capacity as dual officers of The
Dreyfus Corporation. Amherst Capital also has $350mm in
committed capital.
[2] It was not known whether the listed clients approve
or disapprove of the adviser or the advisory services provided.
Contact: Melissa
Cassar
+1 212 635
6038
melissa.cassar@bnymellon.com
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/amherst-capital-hires-team-to-lead-commercial-real-estate-lending-business-300185301.html
SOURCE BNY Mellon