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1/08/26
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Los Angeles-based JRK has acquired a three-property, 803-unit multifamily portfolio from Equity Residential in a $400 mil transaction. The acquisition caps a record year in which the firm acquired more than $1.3 bil of multifamily assets across the United States.
The newly acquired portfolio, located in three major U.S. markets, includes:
• Centennial, 408 units – Seattle, WA
• 77 Park Avenue, 301 units – Hoboken, NJ
• C on Pico, 94 units – Los Angeles, CA
The transaction represents one of the largest multifamily acquisitions of the year and underscores JRK’s continued expansion across high-barrier, supply-constrained markets. In addition, in mid-December JRK acquired Edge 1909 a 364-unit Class A multifamily community in the Strip District of Pittsburgh, PA. Just a few weeks before that, JRK acquired two additional communities in prime southeast markets totaling over 900 units.
In 2025, JRK closed on nearly 3,400 units across multiple transactions. These investments span JRK’s two multifamily strategies: the JRK Platform 5 Fund, a $1 bil discretionary vehicle targeting post-1990, core-plus and value-add communities; and JRK MF Opportunities III, a $188 mil value-add fund focused on 1989 and older vintage assets with meaningful repositioning potential. In addition, JRK is investing out of a $350 mil hospitality platform focused on opportunistic full-service and select-service hotel investments nationwide.
“These recent acquisitions exemplify the type of high-quality, well-located assets we continue to target in today’s market,” said 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’s 2025 acquisitions span a diverse set of major U.S. markets including Los Angeles, Washington, D.C., Miami, New Orleans, and Pittsburgh, reflecting a strategy focused on market selection, asset quality, and downside protection. The firm sourced these investments through a combination of marketed processes, off-market opportunities, and distressed or transitional situations—demonstrating its ability to execute across varying market conditions.
According to MSCI Real Assets, U.S. multifamily transaction volume totaled approximately $111.2 bil through the first three quarters of 2025, reflecting a 9% increase year over year and signaling renewed momentum in the sector.
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