BOLINGBROOK, ILL. — JRK Property Holdings has acquired Brook on Janes Apartments, a 288-unit multifamily community in the Chicago suburb of Bolingbrook. The purchase price was undisclosed. JRK utilized its JRK Platform 5 Fund, a $1 billion multifamily value-add and core plus fund that targets higher-quality, well-located multifamily investments built after 1990. The fund’s portfolio is comprised of institutional-quality assets with an average year built of 2019 located in Illinois, Florida, Kansas and California.
Built by the undisclosed seller in 2017, Brook on Janes rises three stories at 401 Janes Ave. Units come in studio, one-, two- and three-bedroom layouts. Amenities include a pool, clubhouse, fitness club, cookout area and gated dog park. Kevin Girard, Roberto Casas and Matt Lawton of JLL represented the seller. Annie Rice and Brandon Smith of JLL arranged agency acquisition financing with a 10-year, fixed-rate loan.