REBusinessOnline

JRK PROPERTY HOLDINGS ACQUIRES 17 MULTIFAMILY ASSETS FOR $285 MILLION

LOS ANGELES — Los Angeles-based JRK Property Holdings Inc. has acquired a 17-property multifamily portfolio from Apartment Investment and Management Company (AIMCO). The portfolio, which spans five states, is valued in excess of $285 million. The transaction was capitalized through a joint venture with JRK Birchmont Advisors, the private equity division of JRK. The properties are located in Fort Collins, Colo.; Atlanta; Richmond, Va.; Charleston, S.C.; and Cincinnati and Columbus, Ohio. The portfolio will be managed by JRK Residential Group, JRK’s property management affiliate. This acquisition increases the value of JRK Property Holdings’ real estate portfolio to more than $3 billion.

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