EL SEGUNDO, CA / ACCESSWIRE / July 5, 2023 / Calmwater Capital, an investment manager focused solely on senior secured commercial real estate bridge lending, announced the successful closing of Calmwater Real Estate Credit Fund IV, which together with parallel investment vehicles ("Fund IV"), garnered over $372M in capital commitments from domestic and international pension funds, endowments, family offices, and UHNWI. The closing of Fund IV on April 30, 2023, represents a significant milestone for the firm, having fundraised through the dual headwinds of the global COVID-19 pandemic and the recent regional banking crisis, and further solidifies Calmwater's position as a trusted partner for institutional capital seeking exposure to real estate private debt in an environment with attractive near-term investment opportunities.
Calmwater Capital will bring to Fund IV its reputation in the industry for reliability as a capital source, responsiveness to its clients, and flexibility in delivering structured debt solutions. Calmwater's success has been driven largely by its relationships, with 80% of loan origination in 2021 and 2022 with direct and repeat relationships.
"We believe Fund IV is well positioned to leverage Calmwater's 13-year track record of delivering consistent returns to our institutional investors, particularly in a market that is seeing a dramatic pullback in financing options from banks and other traditional lenders. In this rising rate environment where a resetting of property valuations is likely, we are seeing some very interesting risk-adjusted investment opportunities in our pipeline, and our current projections for Fund IV's returns are exceeding pro forma," noted Larry Grantham, Calmwater Capital's Managing Principal.
The majority of the capital committed to Fund IV has already been deployed across 38 investments, with approximately 81% of the fund invested in the sunbelt markets and approximately 76% in industrial, residential, and multifamily product types.
About Calmwater Capital
Calmwater Capital is an institutional, direct commercial real estate bridge lender headquartered in El Segundo, CA. Founded in 2010, Calmwater's investor base has grown to include state and international pension funds, university endowments, and ultrahigh net worth individuals and family offices located both domestically and abroad. With a focus on senior secured commercial real estate bridge loans between $7.5 and $100 million, Calmwater has originated over $3.8 billion of loan commitments over the past 13 years across 234 transactions. For more information on Calmwater Capital, visit www.calmwatercapital.com.
Contains forward-looking statements based on current market conditions. Past performance is no indication of future results.
For media inquiries please contact: Allison Davis, Investor Relations Associate, [email protected], (818) 585-9463
SOURCE: Calmwater Capital