JCR Capital Investment Corp., Denver, is expanding its commercial real estate bridge lending program into small-balance loans as a result of StanCorp Financial Group's investment in the company.
The bridge lending program looks to originate senior-lien loans between $2 million and $10 million that are secured by income producing CRE in the continental U.S.
In 2012, StanCorp subsidiaries provided $1 billion of small balance CRE permanent financing.
A second company, Soundview Real Estate Partners, is also taking an equity interest in JCR. With this funding, it will be the co-leader of a new fund, JCR Commercial Real Estate Finance Fund III LP, which is scheduled to launch later this month.
Soundview has provided $450 million in preferred and joint venture equity to fund transitional assets, nonperforming and subperforming loan portfolios since it was founded in 2003.
The deals make JCR a one-stop shop for middle-market real estate finance, the company says. The Soundview investment will allow create an East Coast presence for JCR, adds Jay Rollins, CEO.
PartnerRe Ltd., an original investor in JCR, remains a shareholder in the company and is expected to contribute to future investment vehicles.
Separately, Fairview Real Estate Solutions, Charlotte, N.C., which provides asset and portfolio management, underwriting, due diligence and other services in the CRE space, has received an investment from QuietStream Financial, also of Charlotte.
QuietStream was created from an investment by Commercial Defeasance and Summit Partners.
Fairview will be supporting QuietStream portfolio companies TCAM and Radian Generation with underwriting, asset administration and analytical capabilities.