Joyal Capital Management, LLC announces recent real estate investments currently in development through the JCM Opportunity Fund.
BOSTON, Aug. 3, 2017 /PRNewswire/ -- The JCM Opportunity Fund has raised an $11,500,000 investment in The Edge at Merrimack River, a 147-unit, off-campus student housing complex serving the Lowell campus of the University of Massachusetts. This is the Fund's third investment and fifth collaboration with Vision Development Inc. At completion, the Fund expects the development to be worth $55,000,000 with a Projected Annual Return of 16.61% and a Floor Return of 14.00%.
The Fund has also partnered with a South Shore-based development and management company Megryco, Inc. on the investment and financing of Pointe 1620, a 56-unit condominium development in Plymouth, MA. This luxury property is in close proximity to Boston and Cape Cod providing an easy commute to both destinations. At completion, the Fund expects the development to be worth $21,000,000 with a Projected Annual Return of 29.70% and a Floor Return of 20.00%.
Most recently, The Fund has raised an $11,500,000 investment in Edge College Hill, a 247-unit, off-campus student housing development in the highly desirable College Hill neighborhood of Providence, RI, adjacent to both Brown University and The Rhode Island School of Design. At completion, the Fund expects the development to be worth $65,000,000 with a Projected Annual Return of 19.13% and a Floor Return of 14.00%.
"We are very pleased to see growth in the Fund's real estate investment portfolio and to be associated with talented development teams like Vision and Megryco. My primary objective is to make sure the Fund selects only those investments that meet or exceed the returns modeled for the Fund from the very beginning. We are continually evaluating future opportunities that can add value to the fund portfolio and to our investors."
- Gary F. Joyal
CEO and Managing Partner
About Joyal Capital Management, LLC
Joyal Capital Management, LLC is a recognized leader in estate planning, franchise development, mergers and acquisitions, financing, private equity and private family office services. The JCM Opportunity Fund I, LLC is a private equity vehicle that focuses on franchise and real estate investments. The Fund's investment return criteria is to generate current cash flow and long-term capital appreciation on a diversified basket of underlying investments.
Visit our website: http://www.joycapmgt.com
For more information on the Fund contact Gary F. Joyal at [email protected], or at 508-747-2237.
SOURCE Joyal Capital Management, LLC
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