JBC Funds improve skylines and bottom lines.
Fund History
JBC Fund VI
JBC Fund VI had a final closing and totals $82.5 Million in co-GP commitments. JBC Fund VI invests as the general partner in joint venture real estate transactions with third-party institutional capital partners. The projects span urban office, multifamily residential, and mixed-use value-added acquisitions and developments across major U.S. markets.
Commitments
Total Project Capitalization *Projected
JBC Fund V
JBC is currently deploying capital from Fund V into value-added and opportunistic real estate investments. Fund V’s primary objective is to acquire or develop a portfolio of real estate investments with attractive risk-adjusted returns. As joint-venture transactions with institutional equity partners, Fund V projects will realize returns from asset-level performance and performance incentive compensation from third-party equity partners. Fund V held its final closing with $84.2 million of total equity commitments in early 2016.
PROJECTS: 151 North Franklin, Chicago; 3Eleven, Chicago; Park Tower at Transbay, San Francisco; S’PARK, Boulder; 333 South Wabash, Chicago; Porte, Chicago
Commitments
Total Project Capitalization
JBC Fund IV
Fund IV held its final capital closing in 2012 with equity commitments totaling $90.1 million. The total capitalization was $817 million: $69 million of Fund IV equity, $269 million of third-party capital and $479 million of debt. The fund made four office and two multi-family investments, including office buildings in Washington, D.C. and suburban Chicago and a high-rise residential development in Philadelphia. The portfolio also includes two unrealized assets, including a high-rise residential development in downtown Chicago.
PROJECTS: 740 15th Street, Washington D.C.; 33 North LaSalle, Chicago; 151 North Franklin, Chicago; MILA, Chicago; 2116 Chestnut, Philadelphia; Meadows Corporate Center, Rolling Meadows, IL
Commitments
Total Project Capitalization
JBC Opportunity Fund III
Our $289.1 million Fund III opened in 2006 and invested in eight projects. The portfolio’s total cost was over $1 billion, capitalized with $240 million of Fund III equity, $159 million third-party equity, and $618 million of debt. The portfolio featured an office development in Chicago’s CBD, a suburban Chicago office tower and office campus, two senior mezzanine notes secured by office towers in Chicago’s Loop, Los Angeles, Boston, and Washington, D.C., two office buildings in Washington, D.C.’s CBD, and one apartment complex in Philadelphia. All investments have been realized as of 2017.
PROJECTS: Parkway North Center, Chicago; 25 Northwest Point, Elk Grove Village; 155 North Wacker, Chicago; 1501 M Street, Washington, D.C.; 1620 L Street, Washington, D.C.; Broadway Mezzanine Debt, Boston, LA, Washington, D.C.; John Hancock Mezzanine Debt, Chicago; 2116 Chestnut, Philadelphia
Commitments
Total Project Capitalization
JBC Opportunity Fund II
Fund II was a $160 million equity fund that opened in 2003 and made seven investments through March 2006. The portfolio’s total cost was $1.2 billion, capitalized with $160 million of Fund II equity, $260 million of third-party equity, and $810 million in debt. The portfolio spanned office high-rises and residential projects in Chicago, Minneapolis, and Washington, D.C.
PROJECTS: 155 North Wacker, Chicago; 111 South Wacker, Chicago; 100 North & 300 South Riverside, Chicago; 200 West Monroe, Chicago; Triangle Plaza, Chicago; 1901 L Street NW, Washington, D.C.; IDS Center, Minneapolis
Commitments
Total Project Capitalization
JBC Acquisition & Development Fund I
An $89 million equity fund opened in 2000, Fund I made seven investments through June 2003. The portfolio’s total cost was $784 million, capitalized with $84 million of Fund I equity, $153 million of third-party equity, and $547 million of debt. The portfolio spanned office and residential development in New York City and the Chicago area and also included two air rights leases for office towers alongside the Chicago River.
PROJECTS: 222 South Riverside, Chicago; 333 West Wacker, Chicago; River East at 92nd & 1st, New York; 311 West Monroe, Chicago; 700 Oakmont Lane, Westmont; 111 South Wacker, Chicago; 100 North & 300 South Riverside, Chicago