LOS ANGELES — Real estate investment firm JRK has announced its acquisition of a portfolio of three multifamily properties for $400 million. The portfolio includes apartment communities located in Seattle; Hoboken, N.J.; and Los Angeles totaling 803 units. The seller was Equity Residential (NYSE: EQR), a Chicago-based multifamily REIT.
Centennial in Seattle features 408 units, 77 Park Avenue in Hoboken comprises 301 units, and C on Pico in Los Angeles totals 94 units. According to Trulia.com, C on Pico offers two-bedroom units, with monthly rental rates beginning at $3,325. Monthly rental rates at 77 Park Avenue begin at $3,655, according to Zillow.com.
“These recent acquisitions exemplify the type of high-quality, well-located assets we continue to target in today’s market,” says Daniel Lippman, president of JRK. “We believe the multifamily sector has reached an inflection point whereby we can acquire assets at a unique time where new supply subsides and long-term fundamentals remain strong. These dynamics create a compelling backdrop that gave us the conviction to be one of the nations’ most active buyers in 2025.”
JRK closed approximately $1.3 billion in acquisitions in the second half of 2025 totaling 3,400 units. According to MSCI Real Assets, multifamily sales in the first three quarters of 2025 totaled roughly $111.2 billion, a 9 percent year-over-year increase from the first three quarters of 2024.
Founded in 1991, Los Angeles-based JRK specializes in the acquisition, repositioning and operation of multifamily and hospitality assets throughout the United States. Currently, the firm manages a portfolio that totals $9 billion in properties across 26 states and includes10 hotel properties and approximately 30,000 multifamily units.
Equity Residential owns and operates 318 multifamily properties totaling more than 86,000 units in coastal and high-growth U.S. markets, according to the REIT’s website. Equity Residential’s stock price closed on Wednesday, Jan. 7 at $61.94 per share, down from $67.52 a year ago, an 8.3 percent decline.
— Hayden Spiess