Chicago Atlantic announced today that it provided a senior secured credit facility to Watermark Commercial Contractors, LLC (“Watermark”), a Texas-based multifamily general contractor, to fund its acquisition of Val-Chris Investments, Inc. (“Val-Chris”). The financing allowed Watermark to complete the acquisition and provides additional growth capital as the business scales.

Founded in 1975 and headquartered in Irvine, California, Val-Chris is a private money loan originator and servicer that places loans secured by residential and commercial real estate, funded through a network of more than 5,000 private investors.

Watermark, based in Dripping Springs, Texas, is a multifamily general contractor focused on affordable and LIHTC housing, with more than 50,000 multifamily units completed since its founding in 1993. Watermark is led by principals Ryan Larson and Chris Kopacek, who are also principals of Lonestar Development Partners, an Austin-based multifamily and build-for-rent single-family developer. The acquisition adds a real estate lending and servicing platform alongside the principals’ construction and development businesses.

“Val-Chris is a long-established platform with a loyal investor base and a strong record in asset-based real estate origination and servicing,” said David Enright, Partner & Head of Direct Lending at Chicago Atlantic. “Ryan and Chris bring deep operating and capital experience across construction, development, and now lending. We are pleased to support their vision for the business and to have worked alongside Westlake to bring this transaction to a successful close.”

Westlake Securities, an Austin-based middle-market investment bank, served as exclusive financial advisor to Watermark and its affiliates on the transaction.

“The Chicago Atlantic team took the time to learn about our businesses and tailored their capital to the needs of the business,” said Ryan Larson, Principal of Watermark. “It was a pleasure to work on this transaction with them.”

About Chicago Atlantic

Chicago Atlantic is a private market lender focused on industries and companies where demand for capital exceeds traditional supply. The firm focuses on loans to esoteric industries, specialty asset-based loans, liquidity solutions and growth & technology finance. Chicago Atlantic has closed over $4.4 billion in credit facilities since inception. Chicago Atlantic’s team of over 105 professionals has offices in Chicago, Miami, New York and London. For more information visit chicagoatlantic.com.

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“Ryan and Chris bring deep operating and capital experience across construction, development, and now lending. We are pleased to support their vision for the business and to have worked alongside Westlake to bring this transaction to a successful close.”