JCR Companies: Montana Principles with a National Perspective
JCR Investment Structure
A Smarter Way to Invest in Real Estate: Focused on neighborhood necessity retail with transparent, deal-specific investments—no middleman or fund overhead.

The JCR Structure

  • 6% preferred return to investors.
  • 65/35 profit split (LP/GP) after the preferred return.
  • Equity returned upon a capital event such as refinance or sale.
  • Market/nominal acquisition, disposition, construction management, and refinance fees.
  • JCR profits only after investors receive their preferred return.

Why JCR Fees Are Lower

  • Low overhead from a lean, experienced team.
  • Scalability of shopping center operations enables efficiency at scale.
  • Triple Net Lease (NNN) model means tenants pay taxes, insurance, and maintenance.
  • Retail properties are simpler to manage than multifamily or mixed-use assets.

The Triple Net (NNN) Advantage

Retail (JCR Focus)

Landlord responsible only for roof, structure, and parking lot.

Apartments

Landlord responsible for toilets, plumbing, HVAC, electrical.

Result: Simpler management, lower fees, and higher net yields.

How JCR Compares

JCR vs. Typical Real Estate Funds

CategoryJCR CompaniesTypical Fund
Asset Mgmt Fee0%1-3% annually
Acquisition/Disposition FeesNominal1-2% typical
Promote35% after 6% pref20-40%, often after lower pref or none
Investor LiquidityDeal-by-deal clarityPooled, less transparent
OverheadLean, in-houseLarge staff, marketing overhead
FocusNecessity retail (NNN)Multifamily / mixed
Target IRR15%+8-12% after fees

JCR vs. Hedge Funds & Private Equity

FactorJCRHedge Funds / Private Equity
Fee BasePerformance-drivenFee-heavy (2% mgmt + 20% carry)
TransparencyDirect property ownershipLayered fund structure
LiquidityAsset-based, clear exitsLocked capital, blind pools
Risk ProfileHard asset-backedMarket-dependent
AlignmentLP-first returnsGP fees regardless of performance

JCR vs. Crowdfunding Platforms

FactorJCR CompaniesCrowdfunding Platform
Asset Mgmt FeeNone1-2% annually
Equity RaiseDirect to investorsThrough marketing campaigns
TransparencySingle-property investmentsPooled, blind-fund approach
OverheadLow (lean team)High (marketing, staff, ads)
Investor AlignmentGP profits after LP prefGP profits via upfront & ongoing fees

The Bottom Line

  • JCR's model puts investors first: high transparency, strong returns.
  • Triple net retail allows scalable growth with low cost and complexity.
  • Target investor IRR: 15%+.