Watt Cos. seeks $150m for lending fund

Watt Cos. is seeking $150 million for a fund called Watt Funding, according to a filing with the SEC. The firm did not comment on its fundraising.

As of Feb. 27, 2019, the vehicle has raised $75 million of capital so far, according to the filing.

Watt Funding is the Commercial Real Estate Lending division of Watt Companies. It originates and structures bridge loans to commercial real estate investors, developers and owners. As an alternative to traditional bank lending, it provides a source of capital and structured solutions to experienced real estate borrowers.

As a whole, Watt Cos. is a full-service solution. Its platform includes, homebuilding, commercial development, asset management and the sponsorship of capital investments.