Our Company
Overview
About Our Firm
Calmwater is an experienced direct commercial real estate bridge lender based in Los Angeles. Founded in 2010, 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 $75 million, we have originated $3.8* billion of senior and mezzanine loans as well as preferred equity investments over the past 13+ years with no loss of investor capital to date across 234* transactions. Calmwater Asset Management, LLC (dba Calmwater Capital), is an SEC Registered Investment Advisor.**
* Figures as of 9.30.2023
**Status as a SEC Registered Investment Advisor does not imply (1) a certain level of skill or training; and (2) that the SEC has endorsed or approved Calmwater Capital’s investment methodology or practices.
Corporate Milestones
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2010
Calmwater Management, Inc. (“Calmwater Management”) is formed as a real estate lending platform of Karlin Asset Management, a Los Angeles based family office
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2011
Calmwater Management originates over $50M in loan commitments for the calendar year
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2013
Calmwater Management originates over $200M in loan commitments for the calendar year
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2015
Calmwater Asset Management, LLC (“Calmwater Capital”) is relaunched as an independent investment platform and closes on a $100M separate account with a top university endowment
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2017
Calmwater Capital 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
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2020
Calmwater Capital becomes a signatory to the UNPRI
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2021
Calmwater Capital has an initial closing for Fund IV. Calmwater surpasses $3B in total loan origination as of May 2021
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2023
Calmwater Capital raises $372M for its fourth real estate private debt fund
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.
Our Team
Working together with a sense of urgency
- Executives
- Originations
- Underwriting
- Asset Management
- Legal
- Finance & Accounting
- Administration
- Investor Relations
