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Our Company

Larry and Dean talking to eachother in conference room

Overview

About Our Firm

Calmwater Capital is a leading direct commercial real estate bridge lender based in Los Angeles. Founded in 2010 with a single source of capital, our investor base has grown to include state and international pension funds, top 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, we have originated $2.7* billion of senior and mezzanine loans as well as preferred equity investments over the past 10 years with no loss of investor capital to date across 188* transactions. Calmwater Asset Management, LLC (dba Calmwater Capital), is an SEC Registered Investment Advisor.

* Figures as of 3.31.2020

Milestones

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    2010

    Calmwater Capital is formed as a real estate lending platform of Karlin Asset Management, a Los Angeles based family office

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    2011

    Calmwater Capital originates over $50M in loan commitments for the calendar year

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    2013

    Calmwater Capital originates over $200M in loan commitments for the calendar year

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    2015

    Calmwater Capital launches as an independent investment platform and closes on a $100M separate account with a top university endowment

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    2017

    Calmwater becomes a Registered Investment Advisor and closes on a $636M co-mingled fund which includes state and international pension funds, top university endowments and family offices

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    2018

    Calmwater Capital surpasses $2B in total loan commitments since inception

Aerial view of building

Investment Strategy

Identifying Opportunity

Our mature investment platform and national presence allow us to identify and capitalize on unique opportunities. We combine an institutional process with the flexibility of direct lending to take advantage of market inefficiencies, with an acute focus on downside protection and superior risk-adjusted returns for our investors, not just in good times, but across market cycles.

Corporate Responsibility

Responsible Investing

Calmwater Capital appreciates the increasing importance of environmental, social and governance (ESG) issues to both sponsors, managers and investors. Calmwater’s investment committee is committed to identifying and considering ESG risks and value creation opportunities in our investment strategy and underwriting process.

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  • We will incorporate environmental, social, and corporate governance (ESG) issues into investment analysis and decision-making processes.

  • We will be active owners and incorporate ESG issues into our ownership policies and practices.

  • We will seek appropriate disclosure on ESG issues by the entities in which we invest.

  • We will promote acceptance and implementation of the Principles within the investment industry.

  • We will work together to enhance our effectiveness in implementing the Principles.

  • We will each report on our activities and progress towards implementing the Principles.

Our Team

Working together with a sense of urgency

  • Executives
  • Originations
  • Underwriting
  • Asset Management
  • Legal
  • Accounting
  • Administration
  • Investor Relations