Cascara Capital
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Cascara RTL Fund I, LLC

A short-term residential construction lending fund. Accredited investors only.

Accredited investors only

The Fund conducts a private offering exclusively to accredited investors under Rule 506(c) of Regulation D. The information below is for informational purposes only and does not constitute an offer to sell or a solicitation to buy securities.

Fund Overview

A privately managed evergreen fund specializing in first-lien residential construction loans.

The Fund is managed by CL Asset Management Group, LLC – a joint venture between Cascara Capital and Level Capital. This partnership combines Cascara's strength in sourcing and originating high-quality builder relationships with Level's established servicing platform, credit oversight, and nationwide borrower network.

Together they form a vertically integrated platform that can source, fund, and actively manage construction loans at scale – seeking consistent, asset-backed returns while addressing the growing demand for U.S. housing.

Early in its life
21 loans as of June 30, 2026

The Fund is early in its life. As of June 30, 2026 it held 21 loans against an initial $100M target expandable to $300M, so investors joining now participate as the portfolio is built.

The Portfolio at Q2 2026

Performance to date.

10.15%1
Annualized return to investors, year to date
211
Loans in the portfolio, averaging $658K each
64.5%1
Average loan-to-value, against a 75% cap
Zero1
Loans on non-accrual and no real estate owned
Fund Structure

An evergreen design built to compound.

A continuous structure with institutional oversight, designed for flexibility, ongoing deployment of capital, and disciplined governance – with principals co-investing alongside investors.

01

Commitments

Investors subscribe into fund shares; capital is deployed into senior, first-lien loans backed by real assets.

02

Alignment

Principals co-invest alongside investors, reinforcing disciplined underwriting.

03

Oversight

Institutional-grade governance for transparency, accountability, and risk management.

04

Liquidity

Quarterly redemptions provide flexibility while fund-level reserves maintain stability.

05

Evergreen

Ongoing subscriptions and reinvestment keep capital deployed and returns compounding.

Investment Terms

Key terms at a glance.

Fund Cascara RTL Fund I, LLC
Fund structure Evergreen, open-ended investment vehicle
Target fund size $100M initial (Expandable to $300M)
Preferred return Class A: 9%  |  Class B: 8%2
Profit split 80% investor / 20% manager
Minimum investment $100K (Half-units available upon GP discretion)
Distribution frequency Quarterly (Elect Income, Growth, or Hybrid)
Redemption limitations 12-month initial lock-up; 10% NAV redemption cap annually
Management fee 1.75%
Leverage Up to 3:1 debt-to-equity via institutional credit facilities
Origination rights First right of refusal on all Cascara and Level originations
Reporting Quarterly performance & NAV; annual audit and investor K-1s
Suitability Accredited investors only

Full terms and conditions are set forth in the Fund's PPM.

Request the PPM →
Why This Fund

Competitive advantages.

Vertically integrated

Integrated origination and servicing across $436M+ in active loan portfolios.3

Strategic borrower relationships

293 repeat builders driving a consistent, proprietary deal pipeline.4

Fund priority access

First right of refusal on all Cascara and Level originations.

Speed & flexibility

Capital structured to meet builders' timelines without sacrificing discipline.

Institutional risk controls

Continuous oversight from funding to exit, with proactive monitoring.

Established platform

Profitable, proven businesses supporting the Fund.

Alignment & Sponsor Commitment

Sponsor capital invested alongside members.

Investors receive priority returns before sponsor participation. The structure is built for compounding growth, led by principals with $28B+ in combined mortgage and construction loan production through their prior companies.

Combined production
$28B+
Mortgage and construction loan production by the principals through their prior companies.
Third-party report available – FactRight
Sponsor co-investment, seeding the Fund5
Performance-linked compensation
Evergreen structure for compounding
Proven, cycle-tested track record

Request fund materials.

Accredited investors can request the deck, fact sheet, and Private Placement Memorandum, or speak directly with our investor relations team.
Cascara Capital

A vertically integrated private credit platform for short-term residential construction lending.

Fund Manager
CL Asset Management Group
Service Partners
Managing Broker Dealer
MiT Associates LLC
Outside Counsel
Nelson Mullins Riley & Scarborough LLP

1 Cascara RTL Fund I, per the Fund's Schedule of Investments as of June 30, 2026. Return shown is annualized to investors for January 1 through June 30, 2026, is unaudited, and reflects a partial year. Past performance does not guarantee future results; 2 Class A units apply to the first $25M of subscriptions; Class B units apply thereafter; 3 All figures as of 9/1/2025; figures represent the combined performance of Cascara Capital, LLC and Level Capital, LLC; 4 Repeat builders are clients who have completed more than one project with Cascara or Level; 5 Sponsor commitment of $2 million is anticipated; timing and structure of contributions are subject to final determination.

Securities offered through MiT Associates LLC ("MiT"), member FINRA/SIPC. MiT is a FINRA broker-dealer and serves as the Managing Broker Dealer for Cascara RTL Fund I, LLC, a private real estate fund (the "Fund"). MiT is not an affiliate of the Fund or CL Asset Management Group, LLC, the manager of the Fund. The Fund intends to conduct a private offering exclusively to accredited investors as defined in Rule 501(a) of Regulation D under the Securities Act of 1933, in reliance upon Rule 506(c). This website is for informational purposes only and does not constitute an offer to sell or a solicitation to buy securities. Past performance does not guarantee future results. All investments carry risk, including the potential loss of principal. Background information on broker-dealer firms and their registered representatives is available at brokercheck.finra.org.

© 2026 CL Asset Management Group, LLC. All rights reserved. Accredited investors only · Reg D 506(c)
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Welcome to Cascara RTL Fund I

These pages cover our private credit fund. The Fund is open to accredited investors only. If you’re looking for financing for a project, head back to the builder site.