Calmwater On Track for $500M Goal

LOS ANGELES—Calmwater Capital is on track to reach its first-year goal of originating $500 million. The firm, which recently rebranded and spun out from its former parent company Karlin Real Estate, placed $93.4 million of debt in the second quarter, and has originated $255 million so far in 2015.

“We set pretty aggressive goals for the year,” Larry Grantham, portfolio manager of Calmwater Capital, tells GlobeSt.com. “At the end of 2014, we, like most of our competitors, saw a very frothy, competitive capital markets, so in general, we have exceeded our expectations, just given the competition that we see out there. We are half way into the year, and we have exceeded half of our annual goals. I am very optimistic that we will hit our goal of $500 million.”