|
|
10/13/15
|
JCR Capital Commercial Real Estate Finance Fund III L.P. has provided a $15.38 mil mezzanine loan for the refinancing of a portfolio of 11 stabilized multifamily properties in California and Illinois, totaling 2,509 apartment units.
The sponsor has been an active owner/developer of multifamily properties since the 1970’s and has a current portfolio of over 11,700 units. JCR, an entity of Denver-based JCR capital, has completed eight similar investments with this sponsor, of which seven have fully realized.
To date, Fund III has committed over $106 mil of capital to investments on 37 assets located in 13 states. 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. 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.
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.
|
|
 Return to the Archive page
|
|
|
|
|
Printer-friendly Version
Email an Associate