JCR To Manage $100M Fund for Bridge Loans

DENVER-Locally based fund manager JCR Capital has reached an agreement to originate, underwrite and manage commercial real estate bridge loans in a $100 million separate account for a large institutional investor. The new product will be marketed as “JCR’s Classic Bridge Loan” program, and will complement its current distressed and opportunistic finance programs. 

According to JCR, who tells GlobeSt.com that it cannot divulge the identity of the investor, loans for the new program will be non-recourse and will span a wide variety of property types including: multifamily, industrial, office, retail, condominium, and non-performing loan pools, and will target yields of 6% to 9% prior to transaction fees. The focus will be to provide bridge financing to properties that need more time to complete their business plan, with the ultimate exit strategy being a refinance or sale.