DENVER, CO – JCR Capital (JCR), a Denver-based real estate finance company, announced that its third fund, JCR Capital Commercial Real Estate Finance Fund III, L.P. (Fund III), had its final closing, raising $329.5 million of investment commitments, surpassing 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.” said 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.
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.
This press release does not and will not constitute an offer to sell or the solicitation of an offer to buy Fund III limited partnership interests or any other security, nor will there be any sale of limited partnership interests in any jurisdiction in which any such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction. An investment in any private real estate fund entails risk, which is set forth in our funds’ offering documents.