CHULA VISTA, Calif. – JCR Capital (JCR), a Denver-based real estate finance company specializing in middle market properties, announced it has closed on a $4.05 million, 24 month bridge loan for the acquisition of Pacific Pointe, a 102-unit independent senior living facility in Chula Vista (San Diego County), California.
The property consists of a three-story facility, originally built in 1974, on 1.07 acres of land.
The borrower intends to use the loan proceeds to make interior and exterior capital improvements to the property.
JCR, founded in 2006 and initially focused on distressed transactions, has transitioned to a “full cycle” finance company providing capital solutions with bridge loans, preferred equity, mezzanine loans and joint-venture equity for value added, distressed, and opportunistic transactions to middle market sponsors. Defined as assets valued under $50 million, the middle market makes up the majority of assets by number in the U.S.; however, according to JCR CEO Jay Rollins, these deals are too small for institutional investors and too large for country club money.
The loan is part of JCR’s new bridge loan program that was created in May 2014 to help JCR take advantage of the void in serving the middle market. The platform is under the direction of Rob Brown, formerly with Deutsche Bank in New York, and has originated over $133 million of loans to date.
JCR is managed by Jay Rollins and Maren Steinberg. Since 1992, throughout a variety of real estate cycles, this team has successfully invested approximately $2.0 billion in over 300 middle market commercial real estate transactions.
This communication is for informational purposes only and intended for our non-advisory loan origination and servicing clients only. As such, nothing herein is an offer or solicitation for the purchase or sale of any security, may not be relied upon in connection therewith, and is qualified in its entirety by any related Private Placement Memorandum and Partnership Agreement. An investment in a private real estate fund involves a substantial degree of risk and investors could lose some or all of their investment. SEC registration does not imply any particular level of skill. Any market data is third-party information and uncorroborated. Loan terms are subject to change.