JCR Capital Signs $100 Million Separate Account to Write Commercial Real Estate Bridge Loans

DENVER, Oct. 24, 2011 /PRNewswire/ -- JCR Capital, a Denver-based fund manager announced an agreement to originate, underwrite and manage commercial real estate bridge loans in a $100 million separate account for a large institutional investor.  

This new product will be marketed as "JCR's Classic Bridge Loan" program, and will complement its current distressed and opportunistic finance programs.  Loans for this new program will be non-recourse and will span a wide variety of property types including: Multifamily, Industrial, Office, Retail, Condominium, and Non-Performing Loan Pools, and will target yields of 6% to 9% prior to transaction fees.  

The focus will be to provide bridge financing to properties that need more time to complete their business plan, with the ultimate exit strategy being a refinance or sale.  This product brings the JCR management team of Jay Rollins and Maren Steinberg, back to their roots at GMAC Commercial Mortgage, where they managed a successful portfolio of over $1.6 billion of similar investments on GMAC's balance sheet from 1999 to early 2006.

JCR's President & CEO Jay Rollins said, "Our robust origination platform was generating a lot of bridge loans that offered attractive returns on a risk-adjusted basis, but did not meet the return requirements for our existing opportunity funds.  This new partnership will enable us to capitalize on the dislocation in the bridge loan market, and will complement our fund product.  It also represents another step in building out the JCR platform to be a full service capital provider to middle market commercial real estate sponsors."

Headquartered in Denver, CO, JCR Capital closed on its first fund in 2010, which is now fully invested.  In addition, JCR is currently in the market with the JCR Commercial Real Estate Finance Fund II, L.P. which is focused on financing distressed and opportunistic investments and will have its first close later this month.

For more information on JCR, please visit www.jcrcapital.com.

SOURCE JCR Capital