IRVINE, CA—CapRock Partners has successfullyclosed its initial investment fund, CapRock Partners FundI, which has exceeded investment expectations for itsinvestors. The fund, which invested in distressedindustrial commercial real estate assets includingnon-performing notes, spanned 13 properties and loans secured byindustrial real estate from San Diego to Silicon Valley; it waslaunched in 2010 at the bottom of the real estate cycle.

A representative transaction from Fund I is the 2011 acquisitionof a non-performing note from a publicly traded bank for anapproximately 240,000-square-foot industrial building in the BayArea. CapRock navigated the asset through bankruptcy proceedings,obtained fee title to the property via foreclosureand repositioned the building for lease. Ultimately, the propertywas sold to a user for its US headquarters.

According to Jerry Pharris, co-founder and CEOof CapRock, “CapRock is an entrepreneurial company, and we haveevolved from acquiring non-performing notes and REO assets todeveloping class-A industrial buildings. We seek to find relativevalue for our investors in every state of the real estate cyclewith an eye to minimizing risk.”