JCR Capital Significantly Expands Middle Market Commercial Real Estate
Market Presence with Major Recapitalization
DENVER -- January 27, 2014
JCR Capital Investment Corporation (JCR), an alternative asset manager
catering to middle market commercial real estate sponsors, announced that it
has sold minority interests of the company to StanCorp Financial Group, Inc.
(“StanCorp”) and Soundview Real Estate Partners (“Soundview”).
As part of the transaction, StanCorp will partner with JCR to expand its
bridge lending program. Soundview, who JCR has partnered with on over $200
million of transactions in JCR’s previous private funds, has contributed
significant equity to co-lead JCR’s next fund, JCR Commercial Real Estate
Finance Fund III, L.P. (Fund III), which will launch this month.
Founded in 2006, JCR focuses on providing capital to transitional,
opportunistic and distressed middle market commercial real estate assets
throughout the United States. JCR provides capital structured as bridge loans,
mezzanine loans, preferred equity and joint venture equity.
In 2012, StanCorp’s subsidiaries provided over $1 billion of small balance
commercial real estate permanent loans. Soundview has invested over $450
million of preferred and joint venture equity to transitional assets,
non-performing and sub-performing loan portfolios since starting operations in
PartnerRe Ltd. (PRE: NYSE) one of JCR Capital’s original partners remains a
shareholder of the company and anticipates investing in subsequent JCR
The transaction expands JCR’s product offerings, as well as its origination
capability and deal flow. With the closing of this transaction, JCR is now one
of the few national “one-stop-shops” for real estate finance, specifically
focused on the middle market.
“We are very excited about this transaction and our new partnership with
StanCorp and Soundview,” said Jay Rollins, CEO of JCR Capital. Rollins went on
to say, “StanCorp is a substantial player for small balance commercial loans,
and this partnership provides JCR an excellent entry into the small balance
bridge loan space. Soundview was a natural fit, as we have been partnering on
fund transactions for over four years. Formalizing the relationship with
Soundview in Fund III will create numerous synergies, including increased deal
flow and an East Coast presence.”
JCR’s bridge loan program will target senior loans between $2 - $10 million
secured by income producing commercial real estate located throughout the
continental U.S. JCR expects to launch Fund III this month, targeting $250
million of equity commitments.
Houlihan Lokey advised JCR Capital in the transaction.
For more information on JCR’s bridge program, please contact Maren Steinberg
at email@example.com or 303-531-0202.
For more information on JCR’s funds, please contact Jay Rollins at
firstname.lastname@example.org or 303-531-0202.
Jay Rollins, 303-531-0202
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