Denver-based JCR Capital has set a target of raising $250 million in investment commitments back in 2015 but they have surpassed their target.
The real estate private equity firm, which also bills itself as an alternative real estate fund manager, closed its JCR Commercial Real Estate Finance Fund III with $329.5 million.
It is the company's aim to make investments and do more lending as well. The increase in investment is the company's third raise following the $100 million raise in 2013.
Perth Advisors were the ones who represented JCR in the fund raise. Fund III investors of the raise was successful which include insurance companies, registered investment advisors, public pension funds, endowments, fund of funds, foundations, high net worth individuals, and family offices.
“The closing of Fund III is another significant milestone for the company and highlights the success of our previous funds as well as the market’s reception of our investment thesis going forward," said Jay Rollins, JCR Capital's president and CEO, according to Biz Journals. "We continue to see years of opportunity, as our strategy is directly tied to the aging of America and anticipated ownership turnover of middle market assets, which leads to financing needs.”
According to reports, there are only few institutionally, capitalized firms that specifically targets the middle market and JCR is one of them with roughly $7 million to $20 million investment.
The investment strategy of Fund III is to provide capital to middle market sponsors. Aside from that, it also targets different kind of asset classes and it typically provides preferred equity, high leverage senior debt, joint venture equity, mezzanine debt, and programmatic joint venture facilities.
Managed by Mr. Rollins and Maren Steinberg a JCR Managing Principal, JCR Capital real estate firm was founded in 2006. The company has successfully invested about 2.2 billion in over 380 middle market commercial real estate transactions since 1992 throughout several real estate cycles, Middle East North Africa Financial Network reported.
