DENVER, CO—JCR Capital (www.jcrcapital.com) announced the recent closing of a $35 million equity joint venture with CapRock Partners for the acquisition of industrial REO and distressed loans secured by industrial products throughout California.
The JCR/CapRock Venture recently acquired a $9.3 million, 90,000 square-foot industrial property in Melrose Park, Ca. as the first investment in the third CapRock “facility” JCR Capital has funded. The property will be financed through the JCR Commercial Real Estate Finance Fund II, L.P. and Soundview Real Estate Partners.
“We are very pleased to have closed on the funding of our third joint venture facility with CapRock Partners,” said Jay Rollins, JCR Capital President. “CapRock's philosophy in acquiring distressed California industrial real estate assets has proven to be an excellent investment vehicle for both of our firms.”
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
