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- Morning Calm Management Launches $500M Strategic Credit Vehicle Led by Ian Russell
Morning Calm Management Launches $500M Strategic Credit Vehicle Led by Ian Russell
Slice of Real Estate Team
August 26, 2024
Key Highlights:
Morning Calm Management launches Morning Calm Strategic Credit (MCSC) with $500M capital.
Ian Russell appointed as Senior Managing Director to lead MCSC's investment strategy.
MCSC targets mezzanine loans and preferred equity in top 50 MSAs across the U.S., excluding office properties.
Focuses on middle-market acquisitions, developments, and recapitalizations with investments ranging from $10 to $50 million.
Source (Business Wire)
Notable Quote:
"We formed MCSC to help a large and underserved segment of commercial real estate investors secure reliable capital in a challenging and uncertain market."
Our Take:
The launch of Morning Calm Strategic Credit (MCSC) is a strategic move to capitalize on the significant gap in the commercial real estate lending market. With traditional lenders retreating due to market volatility, MCSC is well-positioned to provide critical capital to mid-market investors. Ian Russell’s extensive experience and leadership in this space underscore the firm's commitment to addressing the urgent refinancing needs driven by the maturity of a massive volume of loans in the coming years. This venture not only aligns with Morning Calm's strategic growth but also addresses a crucial need in the industry.