JCR Capital Fund Surpasses $250M Target

Denver, CO

DENVER—JCR Capital, a Denver-based real estate finance company, recently revealed that its third fund, JCR Capital Commercial Real Estate Finance Fund III LP , had its final closing, raising $329.5 million of investment commitments. That number surpasses its $250 million target. Fund III investors include public pension funds, insurance companies, endowments, foundations, fund of funds, registered investment advisors, family offices and high net worth individuals.  Perth Advisors represented JCR in the fund raise. “The closing of Fund III is another significant milestone for the company and highlights the success of our previous funds as well as the market’s reception of our investment thesis going forward. We continue to see years of opportunity, as our strategy is directly tied to the aging of America and anticipated ownership turnover of middle market assets, which leads to financing needs.” says Jay Rollins , JCR Capital’s president and CEO. “JCR is one of the few institutionally-capitalized firms that specifically targets the middle market, traditionally a non-institutional space.” In line with the prior JCR funds, Fund III is credit-focused with a mandate of protecting principal while providing investors with attractive risk adjusted returns, including current yield and profit participation components.  Fund III’s investment strategy is to provide capital to middle market sponsors for value-add, opportunistic and special situations.  The fund targets a variety of asset classes and typically provides high leverage senior debt, mezzanine debt, preferred equity, joint venture equity and programmatic joint venture facilities. Fund III is complemented by JCR’s growing bridge loan business, which writes lower leverage senior loans, making JCR a true one-stop shop for middle market commercial real estate finance. In other JCR news, just last month, as GlobeSt.com reported , the company funded four bridge loans totaling $30.15 million. The four transactions include $12 million for the recapitalization of two mixed-use buildings in Santa Monica, where the borrower plans to redevelop the properties into a 271-room mixed-use hotel; $8.5 million for the acquisition of a 96,862-square-foot retail property located in Littleton, CO; $5 million for the acquisition of Aquia Towne Center , a 34,720-square-foot shopping center on a 27.1-acre site in Stafford, VA, where the borrower plans to develop the unused portion of the property; $4.65 million for the acquisition of a portfolio of three Colorado retail properties. JCR was founded in 2006 and is managed by Mr. Rollins and Maren Steinberg, a JCR Managing Principal.  Since 1992, throughout several real estate cycles, this team has successfully invested approximately $2.2 billion in over 380 middle market commercial real estate transactions.