LOS ANGELES—Karlin Real Estate Lending has spun off from its parent company, Karlin Asset Management, and has changed its name to Calmwater Capital. The new company has received third-party funding through two secured credit lines from two global banks and an equity investment from a top-20 university endowment. The additional funding will allow Calmwater Capital to expand its debt products.

“The name-change is simultaneous with our formal spin-off from Karlin, which is part of our continued growth as a lending platform,” Larry Grantham, portfolio manager at Calmwater Capital, tells GlobeSt.com. “In receiving our first third-party investment from a top-20 endowment and receiving $500 million from credit lines at international banks, we are developing our own separate brand as a lending platform. Going forward, Karlin will continue to be a majority investor in our company and an affiliate of ours; however, we will be an entirely separate entity.”

Karlin Asset Management CEO David Cohen will continue to serve as the CEO for Calmwater Capital, as he had under the name Karlin Real Estate Lending. Despite the name change and expanded products, Grantham assures that little else will change. “This is the same team of people in the same marketplace offering continued responsiveness and service to clients in need of bridge capital for complex real estate transactions,” he says. “This new name and the additional capital commitments really allow us to expand our debt products for our clients.”

Last year, the debt provider invested $360 million, and this year, with the additional third-party capital, it plans to invest $400 million to $500 million. With $161 million in capital commitments already placed in the first quarter of the year, including $96 million in first mortgage debt for hotels in Colorado and Arizona, the company is on track to hit its goal. “For most real estate lenders, the fourth quarter is the busiest, and we have already invested $161 million in the first quarter,” says Grantham. “We have multiple deals under contract, so I am extremely confident that we will invest $400 million to $500 million this year.” Karlin Real Estate Lending launched in 2010, and has originated more than $900 million in senior and mezzanine loans on office, industrial, retail, multifamily, hospitality and land.