DENVER—JCR Capital, a Denver-based real estate finance company, announced the first close of its third fund, the JCR Capital Commercial Real Estate Finance Fund III, L.P.
The first close had $105 million in commitments, including a $26 million GP investment. Fund III is targeting a total capitalization of $250 million with a final close at year end.
Fund III will continue the strategy from Funds I and II of providing customized capital solutions to commercial real estate middle market sponsors whose assets do not typically attract institutional capital. The fund is national in scope, with an emphasis on the Western United States. Fund III targets short duration investments, typically six to 36 months, in multifamily, retail, industrial, office, and finished lots using a diversified mix of senior debt, participating debt, and structured equity positions. In line with the prior JCR funds, Fund III is credit focused with a mandate of protecting principal while providing investors with excellent risk adjusted returns, including current pay and profit participation components.
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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.
