Amherst Appoints Chris Avallone as Chief Financial Officer

Dallas Lucas transitions to Vice Chairman; Transition marks next phase of growth for leading residential investment firm

AUSTIN, Texas, Jan. 23, 2025 /PRNewswire/ -- The Amherst Group ("Amherst"), a real estate investment, development and operating platform, today announced that Chris Avallone has been appointed Chief Financial Officer. This appointment will be effective May 1, 2025, following current CFO Dallas Lucas's planned retirement. Lucas will transition to an advisory role as Vice Chairman within Amherst.

Avallone has been with Amherst for nearly seven years, during which he has built and grown the company's investment capabilities, capital markets function, and institutional investor relationships. In addition to his new role as CFO, Avallone will retain his current responsibilities overseeing debt capital markets, equity capital raising, corporate finance and financial planning and analysis. Prior to Amherst, Avallone spent 12 years in capital markets roles at Goldman Sachs and UBS Investment Bank.

"As we transition to this next step in our long-term growth and succession plan, we are confident that Chris is the right person to help maintain Amherst's place as a leading U.S. residential real estate investor," said Sean Dobson, Chairman, CEO and CIO of Amherst. "We are grateful to Dallas for his committed service to Amherst for the past five years and look forward to leveraging his invaluable knowledge during and after this transition."

"I am thrilled to help lead Amherst as we further our efforts to bring innovative and much needed housing solutions across the country while delivering for our investors," said Chris Avallone. "There are a number of meaningful synergies between the CFO role and my work overseeing Amherst's capital-raising function and investment management platform, and I look forward to working alongside my incredibly strong team to build the Amherst of the future."

In addition to his advisory role, Lucas will remain active on a number of Amherst boards.

"It has been a pleasure leading Amherst's financial strategy over the last five years," said Lucas. "I'm looking forward to continuing on with the firm as Vice Chairman and further supporting the team to ensure a smooth and seamless transition."

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 $16.6 billion* of AUM deployed across real estate equity and debt strategies in single-family rental (SFR), and commercial real estate (CRE). Today, Amherst has more than 1,000 global personnel working to create value and provide an excellent experience for the investors, residents, and the communities it serves. To learn more, visit Amherst.com.

*As of September 30, 2024

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SOURCE The Amherst Group