Axar Capital Management, an investment firm focused on the corporate middle market, and Morning Calm Management, a real estate management firm focused on special situation investing, have launched Morning Axe Management (MAM), a real estate lending platform formed to offer capital services by originating senior loans and mezzanine loans in commercial real estate.

The MAM platform launches with approximately $250 million of capital through a separately managed account and will invest and manage capital on behalf of life companies and other institutional investors. Target property sectors include industrial, multifamily, retail, self-storage and office, among others. MAM has also engaged Raymond James to support additional institutional fundraising.

MAM will set up headquarter operations in Des Moines, IA with future origination teams across the country.

“The convergence of rising rates and the decreased availability of real estate credit has created an opportunity for MAM to be a solution to borrowers looking to acquire properties or refinance existing loans. As liquidity remains scarce in the real estate capital markets, we will be well-positioned to be a preferred partner to leading sponsors,” said T.J. Heither, Head of National Originations.