(Mark Your Calendars: RealShare Apartments 2011, October 20 in Los Angeles).

LOS ANGELES-JRK Property Holdings Inc. has acquired nine apartment complexes totaling 2,945 units in six markets and is looking for more assets across the US as it seeks to deploy a $250 million multifamily equity fund targeting $1 billion worth of acquisitions. Bobby Lee, president of Los Angeles-based JRK's investment division, tells GlobeSt.com that the company recently closed on five properties totaling approximately 1,800 units in the Washington DC, Atlanta, and Dallas-Fort Worth markets. With its latest acquisitions, JRK now owns and operates over 42,000 apartment units throughout the US.

JRK paid approximately $160 million for its latest five assets, using $50 million of equity from its second institutional fund, JRK Multifamily Platform, which it raised in March this year. It financed the acquisitions with a mix of existing loan assumptions and newly originated loans by Fannie Mae and Freddie Mac.