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JRK Closes on $300M in Apartments, Seeks $1B

LOS ANGELES-Locally based JRK Property Holdings Inc. acquires nine apartment complexes in six markets and seeks more assets for a multifamily fund targeting $1 billion worth of acquisitions.

By Bob Howard | Updated on July 31, 2011

(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.

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