Amherst Announces Expiration and Results of the Cash Tender Offer for Single-Family Rental Pass-Through Certificates, Class A Issued by AMSR 2022-SFR1 Trust

AUSTIN, Texas, March 25, 2024 /PRNewswire/ -- The Amherst Group (together with its subsidiaries and affiliates, "Amherst") announced today the expiration and results of the previously announced offer (the "Offer") by Amherst Single Family Residential Partners VI, LP, a Delaware limited partnership (the "Offeror"), to purchase for cash any and all of the certificates listed in the table below (the "Certificates") issued by the AMSR 2022-SFR1 Trust (the "Trust") from each registered holder of the Certificates (the "Holders").  The Trust was formed by BAF Securities Depositor, LLC, a Delaware limited liability company, as depositor (the "Depositor").  The Depositor is an indirect wholly-owned subsidiary of the Offeror and an affiliate of Amherst.

The Offer was made pursuant to an Offer to Purchase dated March 13, 2024 (as amended or supplemented, the "Offer to Purchase"), which contains detailed information concerning the terms of the Offer.  The Offer expired at 5:00 p.m., New York City time, on March 22, 2024 (the "Expiration Date").  Capitalized terms used but not defined in this press release shall have meanings ascribed to them in the Offer to Purchase.

The table below lists the aggregate principal amount of the Certificates that have been validly tendered and not validly withdrawn as of the Expiration Date.  The table below also sets forth the purchase price payable for the Certificates (the "Purchase Price") per $1,000 principal amount of the Certificates validly tendered (and not validly withdrawn) by the Holders equal to the "Tender Offer Consideration" for the Certificates.

On March 27, 2024 (the "Settlement Date"), the Offeror will pay the Purchase Price, plus accrued and unpaid interest from the most recent distribution date (on which an interest payment was made) to, but not including, the Settlement Date (the "Accrued Interest") for any Certificates validly tendered (and not validly withdrawn) by the Holders at any time on or prior to the Expiration Date and accepted for purchase by the Offeror in same-day funds.

The Offeror does not at this time contemplate entering into a transaction to resell the Certificates that it acquires. The Offeror will retain all of the rights and benefits attendant to the Certificates under the Trust and Servicing Agreement including the right to receive payments thereon in accordance with the Trust and Servicing Agreement for so long as it owns the Certificates subject to the rights of any lender under a secured financing, if any, with respect to the Certificates.

The Offeror appointed Deutsche Bank Securities Inc. and Goldman Sachs & Co. LLC to act as dealer managers for the Offer, and retained Global Bondholder Services Corporation to serve as the information agent and the tender agent.  Requests for documents may be directed to Global Bondholder Services Corporation by telephone at +1 (212) 430-3774 (banks and brokers) or +1 (855) 654-2014 or email at [email protected].  Questions regarding the Offer may be directed to Deutsche Bank Securities Inc. by telephone at +1 (855) 287-1922 (U.S. toll free) or +1 (212) 250-7527 (collect) or Goldman Sachs & Co. LLC by telephone at +1 (800) 828-3192 (U.S. toll free) or +1 (212) 902-6351 (collect).

Copies of the Offer to Purchase, the related Notice of Guaranteed Delivery, and the other relevant notices and documents are available at the Offer Website at https://www.gbsc-usa.com/amherst.

This press release is for informational purposes only and does not constitute an offer to purchase nor the solicitation of an offer to sell any Certificates.  The Offer was made only pursuant to the Offer to Purchase and the related Notice of Guaranteed Delivery.  The Offer was not made to holders of Certificates in any jurisdiction in which the making or acceptance thereof would not be in compliance with the securities, blue sky or other laws of such jurisdiction.  None of the Offeror, the Dealer Managers, the Information Agent, the Tender Agent or any of their respective affiliates makes any recommendation in connection with the Offer.  Please refer to the Offer to Purchase for a description of terms, conditions, disclaimers and other information applicable to the Offer.

Forward-Looking Statements

Certain statements in this release may constitute forward-looking statements, which involve a number of risks and uncertainties.  Amherst cautions readers that any forward-looking information is not a guarantee of future performance and that actual results could differ materially from those contained in the forward-looking information due to a number of factors, including, but not limited to, those listed under "Cautionary Note Regarding Forward-Looking Statements" in the Offer to Purchase.

About Amherst                                                                     

The Amherst Group (Amherst) is a diversified data-driven investment management platform at the crossroads of global capital markets and U.S. real estate, offering strategies up and down the real estate capital stack. Amherst manages $18.5 billion* of AUM deployed across real estate equity and debt strategies in single-family rental (SFR), commercial real estate (CRE), and mortgage-backed securities (MBS). Today, Amherst has more than 1,000 global personnel working to create value and provide an excellent experience for the investors, residents, and communities it serves. To learn more, visit Amherst.com. The contents of this website do not form part of this press release or the Offer.

*As of December 31, 2023

Media Contacts:

Ciara Bartholomew
[email protected]

Prosek Partners
[email protected]

SOURCE The Amherst Group

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