Chicago Atlantic provided a senior secured credit facility to Watermark Commercial Contractors, a Texas-based multifamily general contractor, to fund its acquisition of Val-Chris Investments. The financing allowed Watermark to complete the acquisition and provides additional growth capital as the business scales. 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,” David Enright, partner and head of direct lending at Chicago Atlantic, said. “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,” Ryan Larson, principal of Watermark, said. “It was a pleasure to work on this transaction with them.”
