JRK Property Holdings Acquires 1,500 Apartments in Transactions Totaling $390 Million

By: JRK Property Holdings
 
LOS ANGELES - Dec. 9, 2021 - PRLog -- JRK Property Holdings through its multifamily value add funds has acquired five garden-style apartment home communities in Florida, Texas, Louisiana and Maine totaling more than 1,500 units for $390 million. These transactions round out a year with nearly $700 million in new acquisition transaction activity for JRK.

The separate transactions all closing in the fourth quarter include the 266-unit Edgewater Crossing in Panama City Beach, FL;  301-unit The Halstead in Houston, TX;  336-unit Heights at Hammond in Hammond, LA; and a two-property, 620-unit portfolio in South Portland, ME.

JRK, one of the largest multifamily landlords in the United States, acquired the properties, through its multifamily value-add funds: $800 million JRK Platform IV, which targets multifamily investments built after 1990; and its $330 million JRK MF Opportunities II, which targets assets built before 1990.  The investment vehicles are funded with capital from institutional investors, high-net worth individuals, and family offices.

JRK is planning to sustain its momentum into 2022, according to the President of JRK's investment division, James Broyer. "With over $5B of buying power from our two existing multifamily funds, our focus continues to be finding compelling opportunities across all vintages of properties in the majority of U.S. markets" Said Broyer.

About JRK Property Holdings

Founded in 1991, JRK Property Holdings (http://www.jrk.com) is a Los Angeles-based real estate investment firm specializing in the ownership, management, leasing and redevelopment of properties in primary and secondary markets throughout the United States. JRK pursues value-added opportunities – investing in properties that can be repositioned to deliver sustainable, growing streams of cash flow.  JRK's approximately $8 billion of investment capital is dedicated to a portfolio spanning 24 states with over 30,000 multifamily units, and luxury and flagged hotels.

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Tags:Multifamily
Industry:Real Estate
Location:Los Angeles - California - United States
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