DENVER, CO—JCR Capital, a Denver-based finance company catering to middle market commercial real estate sponsors, has launched its third fund, the JCR Capital Commercial Real Estate Finance Fund III LP. JCR is targeting a total capitalization of $250 million, with over $26 million of co-investment from the company.
Debt, participating debt, preferred equity, and pari passu equity capital will be provided to middle market sponsors, as well as acquisition proceeds to a select group of middle market developers—targeting opportunistic multifamily, retail, industrial, office and land transactions. JCR focuses on short duration investments, ranging from 6 to 36 months.
The company also recently revealed that it has sold minority interests to Soundview Real Estate Partners and StanCorp Financial Group Inc. As part of the transaction, Soundview, which partnered on over $200 million of transactions in JCR's two previous funds, has contributed significant equity to co-lead JCR's Fund III.
Opportunities continue to be prevalent in the middle market due to less efficient capital and entrepreneurial ownership, says the firm. In addition, the firm says it will seek to capitalize on the “substantial amount of legacy loan maturities coming due over the next four years.”
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
