Form D · Private Equity Fund

U.S. Real Estate Credit Fund III, LP

Los Angeles, CA · CIK 0001661846

Offering snapshot reported Feb 3, 2017 · SEC filing

Reported sold: $202M
Investors reported: 3
Minimum accepted: $0
First sale: Feb 17, 2016

What changed?

Latest filing versus its linked predecessor, where available.

Reported investors0 → 3

Filing history

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Filed	Filing type	Reported sold	Change vs linked filing	Investors	Source
Feb 3, 2017	Amendment	$202,250,000	No comparison	3	SEC filing
Feb 3, 2016	Initial	Yet to sell	No comparison	0	SEC filing

Offering details

Securities: Equity, Pooled investment fund
Exemptions: 06b, 3C, 3C.7
Duration over one year: Yes
Business combination: No

Sales commissions: $750K (estimated)
Finders' fees: $0
Form D file number: 021-256660

Sales compensation recipients

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Recipient	CRD	Associated broker-dealer
Probitas Funds Group, LLC	115876

Source: Form D, filed Feb 3, 2017. Minimum accepted may differ from a standard advertised minimum.

Fund connections

The linked fund shows its most recently reported ADV details.

Matched by reported Form D file number

U.S. REAL ESTATE CREDIT FUND III, LP

Investment adviser: CALMWATER ASSET MANAGEMENT, LLC

Gross asset value: $106M
Beneficial owners: 20
ADV minimum commitment: $5M

Reported in Form ADV on Mar 27, 2026. Fund assets and beneficial owners measure different things from Form D sales and investors.

Service providers

Fund administrator GEN II FUND SERVICES NEW YORK, New York, United States Investor statements: Yes (provided to all investors) Related to adviser: No

Auditor PRICEWATERHOUSECOOPERS GRAND CAYMAN, Cayman Islands

Custodian WESTERN ALLIANCE BANK PHOENIX, Arizona, United States Related to adviser: No

Provider details

Annual audit: Yes
Prime brokers: No
Custodians: Yes
Administrator other than the adviser: Yes
External marketing: No

PRICEWATERHOUSECOOPERS
PCAOB 1366

WESTERN ALLIANCE BANK
LEI 2WHM8VNJH63UN14OL754

Filing source

Form ADV 2071495 · Mar 27, 2026 · Schedule D 7.B.(1), fund 805-6321700906

Official IAPD profile (latest public filing). Values are the most recently reported in our imported data; the public profile may show a newer filing.

People & organizations

Current and past Form D appearances. These existing records do not establish a person's current role or uniquely identify them across issuers.

People and organizations reported in Form D filings
Name	Reported role
David Traversi	Executive

Issuer details

Industry: Pooled Investment Fund (See others in industry)

Address:

11755 Wilshire Boulevard Suite 1425
Los Angeles, CA, 90025