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

(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.