I am a little confused about how they provide capital to investors. Is this essentially a real estate lender? They use words like "opportunistic capital" and they "raise funds" but do not seem to do any principal investing.
"(JCR) provides capital to middle market commercial real estate sponsors."
How is this experience viewed?
Said another way, is this AM, REPE, FOF?
They have a fairly detailed page describing all their Investment profiles: http://www.jcrcapital.com/investment-profiles-products/
CapIq:
Description: JCR Capital is a private equity firm specializing in investments in mezzanine loans, bridge loans, project recapitalizations, project restructures, note purchase finance (both debt and equity), and other special situations. The firm invests in the real estate sector particularly in multifamily, office, industrial, retail, land, lots, and condominium asset classes. It does not invest in healthcare, hospitality, new ground up construction, and student housing sectors. The firm invests in Mid-Atlantic, Western, Southwest, and Northwest United States including Colorado, California, Arizona, Nevada, Washington State, Florida, and Texas along with other areas on a selected basis. It invests between $500,000 and $10 million in its transactions. The firm makes 5 per cent to 20 per cent co-investments at the sponsor level. It also provides debt financing and invests in the form of equity, partnership interests, preferred equity, and participating debt. JCR Capital was founded in January 2006 and is based in Denver, Colorado.
Industries of Interest; Consumer Discretionary, Consumer Services, Hotels, Restaurants and Leisure, Financials, Real Estate
Geographical Interest: United States and Canada, United States of America, Midatlantic, Mountain, Colorado, Southeast, Florida, Southwest, Arizona, Nevada, Texas, West Coast, California, Washington
Yes, I saw that. On the most basic level this firm works with existing borrowers or provides capital to sponsors. They say they specialize in transactions, however I cannot tell if they ever actually invest or just hand out money to private investment firms.
Are there other firms that do this?
I apologize if this is an entertainingly dumb question, but it would seem to me that there are not many large players (oaktree, etc.) who are working with borrowers negotiating DPOs.
Also, is it more or less desirable to be at the firm receiving the capital to invest or being the firm providing capital?
What firm style (am, pe,??) does "providing capital to sponsors" fall under?
The new fund will focus on financing distressed, opportunistic, and value added investments; as opposed to being a buyer of real estate assets.
Found it in their news section. WTF?
This is what they do, read it: http://www.jcrcapital.com/transactions/closed-transactions/
They appear to have worked at places like GMAC and iStar.
I do not think I am being clear here.
I know what the website says.
I think that they never actually source and underwrite their own transactions.
Rather they provide money to firms who do it.
I have never heard of a firm who does this; JCR has a website where they act like a principal investor.
Can anyone comment on this style of management or give a name to what area of finance this is? This seems like FoF to me.
What kind of opportunities exist with firm who do not underwrite or source their own transactions, rather just give money to private investment firms?
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