Morning Calm Management Launches $500M Strategic Credit Vehicle Led by Ian Russell
Slice of Real Estate Team
08/25/2024
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)
Quotes
“ "We formed MCSC to help a large and underserved segment of commercial real estate investors secure reliable capital in a challenging and uncertain market." ”
Mukang Cho, Founder and CEO at Morning Calm Management
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.
