Former JCR Capital Founder Announces New Real Estate Venture with Arizona Acquisition

$8.8 Million Surprise Townhome Purchase Marks Fourth Deal for $80 Million Fund Targeting Middle-Market Opportunities

SURPRISE, Ariz., April 23, 2025 /PRNewswire/ -- Canopy Real Estate Partners, a private equity firm launched by real estate veteran Jay Rollins, has acquired ParkView Townhomes in Surprise, Arizona for $8.8 million. The transaction marks the first Arizona investment for the Denver-based firm that has recently expanded to the Valley, specializing in partnering with emerging real estate talent in the middle market.

The newly constructed 27-unit townhome property, located at 16601 N Parkview Place, consists of two-story, three-bedroom townhomes with two-car garages, averaging 1,420 square feet per unit. The property includes a dedicated pool, pet area, and private garage entrances.

"ParkView Townhomes represents the newest townhome product available in Surprise," said Rollins, who moved to Arizona in 2023. "We're particularly excited about its location adjacent to the Civic Center and Texas Rangers Spring Training Campus, which makes it an attractive offering in a growing market."

Canopy partnered with TBBG Investments on the transaction, led by Andrew Biskind and Andrew Busching. TBBG identified the property, negotiated the sale, and will provide property management services.

"Working with Canopy was a great experience," said Biskind. "They brought both capital and expertise, and we look forward to continuing to build our relationship."

ParkView Townhomes, purchased out of a construction loan, has not yet been occupied. Canopy plans to begin an anticipated nine-month lease-up of the 27 units with prices starting at around $2,100 per month.

Rollins, who previously founded JCR Capital (which was sold to a public company in 2018), launched Canopy with a unique approach to real estate investment. The firm identifies promising middle-market sponsors and provides them with joint venture capital or GP co-investment capital, and intellectual capital to help them evolve into institutional fund managers. 

"After over three decades of successful investing in middle market real estate, we're very familiar with investing through cycles and how to value real estate. At Canopy, we have a people-first approach," Rollins explained. "Our goal is to identify the next generation of great local real estate investors and partner with them to grow their platforms. This investment in Surprise is our first step of many in the Arizona market."

Canopy differentiates itself through its three-pronged support system for emerging sponsors: joint venture capital, GP capital, and intellectual capital. The firm targets middle-market assets of $50 million or less, focusing on multifamily, retail, industrial, self-storage, and build-to-rent properties.

The approach reflects Rollins' extensive experience in the real estate sector, where he has successfully navigated multiple market cycles. His career spans Eastern Realty (which purchased assets from the RTC in the 1990s), GMAC Commercial Mortgage, and JCR Capital, with combined transaction experience of over 600 real estate deals.

"The next 24 months will be one of the best real estate buying opportunities in decades, particularly in the middle market," said Rollins. "2025 will be the year the bell tolls for many real estate owners and investors with maturing debt, creating significant value reset opportunities."

Canopy's first sponsor partner is Colorado-based CentrePoint Properties, headed by Tucker Manion.

Canopy has already made four investments with CentrePoint Properties, making ParkView Townhomes its fifth overall acquisition. The firm expects its Fund I to be fully invested by late 2025 or early 2026.

For more information, please visit canopyrepartners.com or contact Jay Rollins at [email protected] or [email protected].

About Canopy Real Estate Partners

Canopy Real Estate Partners acquires value-add, middle-market commercial real estate assets in select markets. Founded by Jay Rollins and Maren Steinberg, along with Tucker Manion of CentrePoint Properties, Canopy specializes in partnering with early state sponsors to help them access institutional capital and grow their platforms. The firm targets investments with day-one cash flow, underwritten to 15-18% IRRs and 1.8-2.0x multiples in a three- to four-year hold period.

SOURCE Canopy Real Estate