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JRK Acquires Puget Sound MF for $57M
Los Angeles-based JRK Property Holdings acquired Santa Fe Ridge Apartments in Silverdale, WA in an off-market deal valued at a reported $56.5 million. The privately-held real estate investment firm has increased its multifamily portfolio in the Seattle MSA to more than 1,400 units.
JRK’s James Bloomingdale says, “The Kitsap Peninsula, and Silverdale in particular, benefits from a strong local economy anchored by the largest naval base in the Pacific Northwest.”
Built in 1991, the 240-unit garden style apartment community is located on a hillside lot at 1410 NW Santa Fe Lane overlooking Old Town Silverdale and the Puget Sound’s Dyes Inlet. JRK will complete renovations to the one, two and three-bedroom apartment homes that were started by the seller, Benedict Canyon Equities.
Planned improvements will touch the indoor swimming pool and spa, fitness center and community lounge. The property also includes indoor racquetball and basketball courts, tanning salon, dog park, and children’s playground.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition


