JCR Capital Launches Fourth Fund

Fund IV will focus on middle-market properties valued at $50 million or less in the multifamily, industrial and office sectors, as well as some retail.

Commercial Property Executive | June 7, 2018

JCR Capital Investment Corp. launched its fourth fund, JCR Capital Income Plus Fund IV LP.

Fund IV will target value-add cash flowing properties with shorter investment periods than previous funds. The fund will also focus on middle-market properties valued at $50 million or less in the multifamily, industrial and office sectors, as well as some retail. Fund IV will aim to generate a 6 to 7 percent yield and a 12 percent net IRR, without the use of leverage at the fund level. JCR plans to cap the fund at $200 million.  

“With no fund-level leverage, Fund IV will be much less susceptible to macro credit market issues that can, and have in the past, decimated leveraged debt funds when the market turns south,” said Jay Rollins, managing principal of JCR Capital, in prepared remarks.

“The high values in the stock market, along with rising interest rates and uncertainty surrounding the current political environment, make this the right time to invest more conservatively and continued focus on principal protection,” he added. “Limiting the fund to $200 million and focusing on short-duration investments allows us to deploy and realize the capital quickly enough to navigate this uncertain environment with confidence.”