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JRK’s 2021 Plans: Resume Where it Left Off in 2020
JRK Property Holdings recently acquired two garden-style communities, Carrington Park at Gulf Pointe in Houston, and Fieldpointe of St. Louis, in separate transactions valued at nearly $81.5 million. The two transactions follow JRK’s completion of a 4,061-unit multifamily portfolio sale comprised of 12 communities ranging from 64 to 709 units in California, Colorado, Florida, Georgia, North Carolina, Ohio and Texas.
Built in 2007, Carrington Park features 258 apartment homes located in 10 three-story residential buildings on a 16-acre site at 11666 Gulf Pointe Dr., 15 miles southeast of downtown Houston. Built in 1969, Fieldpointe of St. Louis features 260 apartment homes and 58 townhomes at 1951 Oberline Dr. in the suburb of Maryland Heights. Collectively, the properties are 96% occupied.
The 12-asset portfolio sale capped off an active 2020 for JRK with nearly $2 billion in transaction volume.
“We have an ambitious goal of $1.5 billion in acquisitions in 2021,” says JRK’s investment division president, James Broyer. “With close to $5 billion of buying power from our two existing multifamily funds, our focus is finding compelling opportunities across all vintages of properties in the majority of U.S. markets.”
For comments, questions or concerns, please contact Lisa Brown
- ◦Sale/Acquisition
