JRK Property Holdings is on a buying spree and has acquired two additional multifamily communities for almost $100 million.

The real estate investment firm did not specify the price of each individual property – but one of the purchases is in Woodbury, Minnesota at 2150 Vining Dr, which spans 287,975 square feet.  First delivered in 1991, the townhome community with 23 residential buildings, features 224 units, offering one to three-bedroom spaces.  Plus, the property, known as Woodbury Park, has some extras including outdoor fire pits, a fitness center, a community clubhouse, outdoor grilling stations, and a pool. The community was 99 percent occupied, as of the closing time of the acquisition.

JRK referred to the submarket, in a statement, as "one of the best suburbs in the nation," as multifamily assets are in "high demand" in Woodbury. The community is 10 miles away from Minneapolis, which recently topped RentCafe.com's first-half list of most in-demand cities for renters. This can be attributed to the metro area's strong job market and walkable neighborhoods.