By Exec Edge Editorial Staff
Morning Calm Management, a real estate management firm, said it has formed a $500 million joint venture with a global investment manager.
Morning Calm Office Finance (MCOF) will provide financing solutions for office owners and investors, while focusing on structured office debt investments. It will invest across the country’s top 30 MSAs, targeting Class A office properties in high-barrier markets.
The joint venture aims to capitalize on the opportunity created by the projected $566 billion of office debt maturities coming due over the next five years.
“We decided to enter the debt business with the launch of Morning Calm Office Finance to serve as a reliable source of capital for experienced borrowers and capitalize on the opportunity created by legacy lenders pulling back. We believe this strategy provides a win-win scenario for all parties involved.” said Mukang Cho, CEO and Managing Principal at Morning Calm Management.