In the second half of 2020, JRK Investors sold approximately $1 billion of apartment assets.
While many factors led to the dispositions, including a potential changing tax code, lessons from the pandemic were still fresh on executives' minds. The assets had bridge floating-rate debt that matured in a couple of years. So JRK's president Bobby Lee decided to pass on potentially better returns by selling the assets.
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Leslie Shaver
Les Shaver has been covering commercial and residential real estate for almost 20 years. His work has appeared in Multifamily Executive, Builder, units, Arlington Magazine in addition to GlobeSt.com and Real Estate Forum.
