Calmwater Capital raises $636m

The Los Angeles-based direct commercial real estate lender has wrapped up fundraising for its third real estate debt fund.

Calmwater Capital has raised $636 million in the final closing for its U.S. Real Estate Credit Fund III.

Calmwater will use Fund III’s capital to invest in $5 million to $50 million senior loans for well-built property assets in the US.

Probitas Partners was the placement agent for the fund.