DENVER, CO—JCR Capital, a Denver-based finance company catering to middle market commercial real estate sponsors, has launched its third fund, the JCR Capital Commercial Real Estate Finance Fund III LP. JCR is targeting a total capitalization of $250 million, with over $26 million of co-investment from the company.
Debt, participating debt, preferred equity, and pari passu equity capital will be provided to middle market sponsors, as well as acquisition proceeds to a select group of middle market developers—targeting opportunistic multifamily, retail, industrial, office and land transactions. JCR focuses on short duration investments, ranging from 6 to 36 months.
The company also recently revealed that it has sold minority interests to Soundview Real Estate Partners and StanCorp Financial Group Inc. As part of the transaction, Soundview, which partnered on over $200 million of transactions in JCR’s two previous funds, has contributed significant equity to co-lead JCR’s Fund III.
Opportunities continue to be prevalent in the middle market due to less efficient capital and entrepreneurial ownership, says the firm. In addition, the firm says it will seek to capitalize on the “substantial amount of legacy loan maturities coming due over the next four years.”