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Jay Rollins

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

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

“Due for a Correction”

Jay Rollins, managing principal of JCR Capital, notes that thereare increasing concerns that the market is due for acorrection.

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He says that Fund IV is “designed to protect against thisdownside scenario with stress-tested underwriting, while providingan 'upside hedge' in the event that a market dislocation does notoccur over the next three years.”

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JCR Capital invests on behalf of insurance companies, publicpension funds, endowments, foundations and family offices. It was acquired by Walker & Dunlop in the secondquarter of 2018 and continues to operate independently as awholly-owned subsidiary.

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

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