JCR Capital Holds First Closing of Second Fund

DENVER, Dec. 5, 2011 /PRNewswire/ -- JCR Capital (JCR), a Denver based alternative asset manager, announced today that it held a first closing on its second fund, JCR Commercial Real Estate Finance Fund II, LP (Fund II). To date, Fund II has $46 million in commitments.

Fund II will utilize the same investment strategy as JCR's first fund and will provide capital to real estate sponsors seeking short term financing for distressed, opportunistic and value-added commercial real estate. Fund II is part of JCR's effort to fill the substantial void created by the collapse of financing in the middle-market commercial real estate sector over the past three years combined with an estimated $1.7 trillion in maturities occurring over the next five years.

The fund will focus on middle-market transactions between $2-15 million. JCR will provide real estate sponsors with debt, preferred equity and equity.

"Current market conditions are allowing JCR to make attractive investments uncorrelated to major indices in securities which occupy a senior position in the capital structure but which have equity upside," said JCR Managing Principal Jay Rollins, "Like Fund I, Fund II will seek to provide investors equity-like returns with a debt-like risk profile and frequent liquidity events."

JCR's first fund, the JCR Capital Distressed & Opportunistic Real Estate Fund I, LP had its final close in November of 2010, is now fully committed  and has already returned 30 percent of its capital.

Fund II will focus on the same opportunities that Fund I found plentiful.

JCR is seeking $100 million in equity commitments to Fund II by March 31, 2012 and is being represented by New York based placement agent, Patrick Campbell of Perth Advisors.

Mr. Rollins said, "We were extremely pleased that over 90 percent of Fund I investors re-committed to Fund II. We believe that the success of our strategy executed in Fund I is increasingly clear as frequent realizations and distributions to investors continue to occur. This transparency is leading to more investor confidence and more investments as people understand that the JCR strategy is the right strategy for this market."

JCR continues to grow its middle market investment platform. In addition to its fund product, JCR also recently closed a $100 million separate account that targets low leverage, lower-rate bridge loans between $3-20 million.

JCR's management team is led by Jay Rollins and Maren Steinberg, who together have originated and successfully invested over $1.8 billion in 220 debt and distressed equity commercial real estate investments over the past 19 years. This experience puts them in the unique position to capitalize on the current dislocation in middle-market commercial real estate finance.

For more information about JCR Capital:

The foregoing does not constitute an offer to sell or a solicitation of an offer to buy JCR Commercial Real Estate Finance Fund II, L.P. limited partnership interests, nor will there be any sale of limited partnership interests in any jurisdiction in which any such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.

SOURCE JCR Capital