Jay Rollins

BETHESDA, MD–Walker & Dunlop's alternative investment management platform, JCR Capital, has closed on its fourth fund, JCR Capital Income Plus Fund IV, L.P. at $306 million, surpassing its initial target of $130 million.

Fund IV will primarily make participating preferred equity and structured joint venture equity investments in value-add, cash flowing properties with short duration investment periods.  The fund will focus exclusively on middle market properties — properties currently valued at $50 million and less — in the multifamily, industrial and office sectors, as well as select retail assets.

“Due for a Correction”

Jay Rollins, managing principal of JCR Capital, notes that there are increasing concerns that the market is due for a correction.

He says that Fund IV is “designed to protect against this downside scenario with stress-tested underwriting, while providing an 'upside hedge' in the event that a market dislocation does not occur over the next three years.”

JCR Capital invests on behalf of insurance companies, public pension funds, endowments, foundations and family offices.  It was acquired by Walker & Dunlop in the second quarter of 2018 and continues to operate independently as a wholly-owned subsidiary.

The closing of Fund IV brings Walker & Dunlop's total assets under management to $1.1 billion, including JCR regulatory assets under management and loans managed for the company's interim lending joint venture.