Morning Calm Management launches $500m office JV

Morning Calm Management, a vertically integrated real estate management firm with a focus on special-situation investing, has formed a $500 million joint venture with a leading global investment manager

The joint venture, Morning Calm Office Finance (MCOF), will provide high-quality office owners and investors with flexible financing solutions, helping them to navigate the evolving market environment.

As one of the first and only specialized, singularly focused, office-credit vehicles, MCOF will help fill the massive capital void resulting from big and regional banks, life companies and debt funds pulling back on office lending. It will accomplish this by originating and acquiring structured office-debt investments, including senior and mezzanine loans, B-notes and preferred equity. MCOF will invest across the country’s top 30 metropolitan statistical areas, focusing on class A office properties in high-barrier markets supported by strong fundamentals. Loan sizes wil