Promenade at Highlands Ranch
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Promenade at Highlands Ranch

Denver, Colorado

JCR's president/CEO invests directly in every deal alongside investors.

Investment Details

All-in Cost: $27.0 million
Total Equity: $9.2 million
Projected Yield: 14.82% (2026 stabilized, I/O loan)
Target IRR: 28.28%
Exit Cap: 7.5%

Summary

JCR purchased Promenade at Highlands Ranch in Q2 2024 from a distressed office owner in 2024 at a 9.3% cap rate. JCR quickly repositioned the largest tenant who was dark but paying rent and leased the remaining vacancies within 1 year of ownership.

Important Notice Regarding Securities Offerings. "The securities described herein are being offered in reliance on an exemption from registration under the Securities Act of 1933, as amended, pursuant to Regulation D. These securities have not been registered with the U.S. Securities and Exchange Commission or any state securities authority."

Investment in these securities involves a high degree of risk. "Investors must be able to bear the economic risk of their investment and should review all offering documents carefully. The offering is limited to persons who are “accredited investors” as defined in Rule 501(a) of Regulation D. By proceeding, you represent and warrant that you meet the requirements of an accredited investor or will complete the certification provided. No public solicitation or advertising is intended, and nothing on this site constitutes an offer to sell or a solicitation of an offer to buy securities in any jurisdiction where such offer or solicitation would be unlawful."

Forward‑Looking Disclaimer. "Certain statements herein are forward‑looking and based on current expectations, estimates and projections. Actual results may differ materially due to various risks and uncertainties. See the PPM for a complete discussion of risks and assumptions."

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Why Retail?

Retail real estate remains one of the most resilient and proven asset classes. JCR’s founder has been active in retail since 2003, witnessing its strength through the Great Recession, the pandemic, and the rise of e-commerce. Today, the sector is as strong as ever—anchored by daily-needs tenants, limited new supply, and steady consumer traffic.

Essential, service-oriented shopping centers provide stable cash flow, inflation protection, and long-term development potential.

Key Drivers

  • Necessity Demand: Grocers, fitness, healthcare, and dining tenants remain insulated from online disruption.
  • Inflation Protection: Leases often include annual increases or percentage rent tied to sales, and tenants have pricing power to adjust to inflation.
  • Durable Income: Reliable rent streams with minimal capital needs and proven performance across cycles.
  • Value-Add Upside: Re-tenanting, expense control, and improved merchandising drive NOI growth.
  • Future Development: As driverless vehicles reduce parking demand and zoning evolves, large retail parking lots offer long-term redevelopment opportunities—from new pad sites to mixed-use or residential density.

Retail has adapted and thrived for decades—delivering cash flow today and opportunity for tomorrow.

Further Reading

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