JDM Partners, a leading real estate investment and development firm headquartered in Phoenix, announced the successful close-out of JDM Partners Opportunity Fund III LLC, marking the firm’s first fully realized fund and a significant milestone in its investment platform. The Fund completed its lifecycle in 2025 following an approximately 10-year hold period, delivering strong performance across a diversified portfolio of assets located throughout the United States.

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Opportunity Fund III deployed approximately $430 million of gross invested capital across a range of high-quality commercial and industrial real estate investments spanning multiple major U.S. markets. The Fund generated aggregate gross sales proceeds of approximately $568 million, resulting in a blended net internal rate of return of approximately 15% and a net equity multiple of approximately 2.5 times.[1] With properties located in Arizona, California, Georgia, Kansas and Texas, the portfolio’s geographic diversity and disciplined asset management approach enabled the Fund to perform through multiple market cycles while maintaining a focus on downside protection and value creation.

“This successful close-out reflects the confidence our investors placed in JDM and our responsibility to execute with discipline and care throughout the life of the Fund,” said Jerry Colangelo, Chairman and Founding Partner of JDM Partners. “We are grateful for that trust and proud of our team’s ability to manage these assets efficiently and decisively, delivering strong outcomes while navigating complex market conditions.”

Opportunity Fund III represented JDM’s continued evolution as an institutional-quality real estate investor, leveraging the firm’s long-standing operating expertise and deep market relationships. The Fund’s assets were diversified by geography and use, reinforcing JDM’s strategy of targeting well-located, mission-critical properties supported by durable demand drivers.

“The full realization of Opportunity Fund III is a strong validation of our investment strategy and hands-on operating approach,” said Mel Shultz, Co-CEO and Founding Partner of JDM Partners. “Our team remained intensely focused on execution throughout the Fund’s life, and we are proud of the results achieved for our investors across a diverse set of markets and economic environments.”

With the close-out of Opportunity Fund III, JDM Partners continues to build on its legacy of successfully executing large-scale and complex real estate investments nationwide, while remaining focused on long-term value creation for investors and communities alike.

“The diversity of this fund and the markets represented is a true indicator of JDM’s capabilities, but also our future focus to expand our reach throughout the sun belt states and beyond,” said JDM Partners Co-CEO Torry Berntsen.

For more information, visit jdmpartnersllc.com