SIMM Cap Debt Fund I · Rule 506(c) · Accredited investors only
SIMM Cap Debt Fund I lends on single-family development, fix-and-flip projects, and bridge loans on commercial properties — every loan in first-lien position, secured by the underlying real estate. Income first, collateral always.
Fund terms at a glance
Verified accredited investors only · Rule 506(c)
The strategy
Banks have pulled back from exactly the kind of short-term, project-level real estate lending that builders and operators need most. Debt Fund I steps into that gap — on our terms, at our lien position.
What we lend on
Construction and development loans to experienced single-family builders — the same asset class we invest in on the equity side, so we underwrite it as owners, not just lenders.
What we lend on
Short-duration loans to proven operators renovating and reselling homes. Short terms mean capital recycles quickly and pricing resets with the market.
What we lend on
Bridge loans on commercial properties in transition — lending conservatively against real assets while the borrower executes a defined plan.
The fund does not make second-position, mezzanine, or unsecured loans. If a borrower defaults, the fund stands first in line against the property securing the loan. That single rule shapes everything else we do.
Why lien position matters
Two loans on the same property can carry entirely different risk depending on who gets paid first when things go wrong. Debt Fund I only ever occupies one seat: the first one.
First lien — where this fund lends
Secured directly by the real estate. If a loan defaults, the first-lien holder has the primary claim on the property.
Second lien / mezzanine
Higher stated yields, but recoveries only begin after the first lien is made whole. This fund does not lend here.
Equity
The highest upside and the first loss. A different tool for a different job — that's what our equity funds are for.
We'd rather earn a strong, secured yield than reach for an extra point by giving up the collateral. That trade is the entire strategy.
How the fund works
Investors subscribe to SIMM Cap Debt Fund I. Your investment is in the fund's diversified loan book, not any single loan — spreading exposure across borrowers, property types, and durations.
Every loan is underwritten against the property first and the borrower second: conservative advance rates against verified values, proven operators, clear budgets, and a defined repayment path.
Interest income flows into the fund as borrowers pay. Because most loans are short-duration, capital recycles into new loans at current market pricing.
The fund targets an 8–12% annual yield to investors, paid through quarterly distributions. After a 12-month lockup, redemption provisions are described in the offering documents.
Fund terms
Disclaimer: Summary only. The target yield is an objective, not a guarantee, and actual returns may be higher or lower, including loss of principal. Liquidity after the lockup is subject to the terms and limitations in the fund's confidential private placement memorandum and related offering documents, which control in all respects and supersede the summary information on this page.
Why SIMM
Most credit funds underwrite from a spreadsheet. We've spent twenty years buying, building, and operating the same property types this fund lends against — so when we value collateral, it's an owner's number, not a broker's.
The tests every loan must pass
Collateral value we'd be comfortable owning at our basis. Conservative advance rates that leave real equity ahead of us. Borrowers with verifiable track records in the exact strategy they're executing. Clear budgets, defined timelines, and a repayment path that doesn't depend on a market rally. Miss one, and we pass.
Source: SIMM Capital. Figures reflect firm-level track record across entities and transactions and are not the results of this fund or any single offering. Past performance is not indicative of, and provides no guarantee of, future results.
The team
Founder & Managing Principal, SIMM Capital
Mat has raised and deployed private capital since 2006 and has spent roughly 20 years operating across real estate, manufacturing, and retail. He founded SIMM Capital in 2014 and leads its investment strategy and term negotiations. He's the author of Become Scaleable.
Director of Investor Relations, SIMM Capital
Jason works directly with SIMM Capital's investors. If you book a call, he'll walk you through the fund, the current loan book, and whether it's the right fit for your situation.
Is this for you?
Next steps
Step one
A direct conversation with our team about the fund, the loan book, and your goals. No documents are sent before this conversation.
Step two
If it's a fit, we send the confidential private placement memorandum and full offering materials for you and your advisors to review.
Step three
Accreditation verification and subscription are handled through our investor portal. From there, you'll receive quarterly distributions and reporting.
Start with a conversation. You'll leave it knowing whether this fund belongs in your portfolio — even if the answer is no.
Book a call with our teamStraight answers
Loans — not properties. The fund originates first-lien loans secured by real estate across three categories: single-family development, fix-and-flip projects, and bridge loans on commercial properties. Investors own a share of the diversified loan book.
Every loan the fund makes is in first position against the property securing it. If a borrower defaults, the fund holds the primary claim on the collateral. The fund does not make second-position, mezzanine, or unsecured loans.
No. It's the fund's target range based on current loan pricing and our underwriting. Actual yields may be higher or lower, and loss of principal is possible. The offering documents describe the risks in full.
Equity funds own properties and target appreciation and profit upside; this fund lends against properties and targets secured income. Credit sits ahead of equity in the capital stack — lower upside, earlier in line. Many of our investors hold both for that reason.
The fund's first-lien position gives it the primary claim on the property securing the loan, and conservative advance rates are designed to leave equity ahead of the fund's capital. Workouts and recoveries take time and are never certain, which is one reason this is an accredited-investor offering.
Quarterly, from the interest income the loan book generates. Details and timing are set out in the offering documents.
There's a 12-month lockup from your investment. After that, redemption provisions apply as described in the offering documents — this is still a private fund, not a daily-liquidity product.
Verified accredited investors only, under Rule 506(c) of Regulation D, with a $100,000 minimum. Verification is handled during subscription through our investor portal.
You'll talk with our team about the fund and your goals. If it's a mutual fit, we send the confidential offering documents. We don't send documents to anyone before that conversation.
In many cases, yes — self-directed retirement accounts and entities are common ways our investors participate in income strategies like this one. Bring it up on the call and we'll walk through the specifics with you and your advisors.
Note: These answers are general information only and are not investment, legal, or tax advice. Any investment involves risk, including possible loss of principal.