Popular on eTradeWire
- Stephanie Peppers Launches Rethread Chronicles - 151
- Real Estate Investor Shane Seo Hosts Empowering Workshop in Atlanta for Aspiring Investors - 135
- Energies Media: Unifying Insights Across the Energy Spectrum - 128
- Celebrate National Direct Support Recognition Week, September 8 – 14, 2024 - 124
- She's Back! Linda Peaches Doesn't Want You To Give Up On Love - 104
- GD Introduces New Feature: Driver's License and Barcode Scanning - 103
- Author Florence Henry Releases New Book and Becomes Bestselling Author! - 102
- CURE Childhood Cancer Secures Record Funding for Research
- DocVilla Unveils AI and Automation in Cloud-Based EHR Software, Revolutionizing Healthcare Delivery
- ZACROS Group Welcomes Taku Shimoda as New Chief Executive Officer
Similar on eTradeWire
- Title Alliance Announces Strategic Consolidation of their Arizona Joint Ventures to Enhance Business
- NEW CONSTRUCTION in St Cloud, Minnesota
- Ribbon-Cutting Ceremony Marks the Completion of TAJ Flooring, Inc. Warehouse Facility Expansion
- Harbor Associates Acquires 211,000-SF Suburban San Diego Office Campus
- Eden Prairie Home Available for the First Time in 23 Years
- Parade of Homes Winners Announced
- Real Estate Expert in Central Florida Advises Buyers on Timing the Market: Buy Now or Wait?
- CEO Seth Bame Leads Indio Management in Transformative Restoration of Marquita Court
- Brite Homes Wins Overall Diamond Award at Space Coast Parade of Homes in Palm Bay, Florida
- Mesa West Capital Provides AEW with $114 MM in Combined Debt to Refi Two Senior Housing Communities
JRK Property Holdings Acquires Apartment Communities in San Francisco and Minneapolis
eTradeWire News/10781357
LOS ANGELES - eTradeWire -- JRK Property Holdings out of its JRK Platform 5 Fund has acquired in separate transactions two Class A multifamily communities in Minneapolis and San Francisco for nearly $100 million.
"We are finding an increasing number of compelling investment opportunities amid treasury volatility and a reduced buyer pool," said JRK President Daniel Lippman. "With cap rate movement lagging the recent treasury reduction, we are seeing a window to acquire attractive cash yields on high-quality product at historically wide cap rates. We are thrilled with finding these two investments for the Fund, which offer strong in-place cash flow while still providing significant physical repositioning upside. Over the next 12-18 months, we intend to be aggressive buyers and invest another $1.5 to $2 billion."
JRK Platform 5 Fund is a $1 billion multifamily value-add and core plus fund which targets higher-quality, well-located multifamily investments built after 1990. This is JRK's third acquisition out of the fund in the past 30 days. Last month, JRK acquired Brook on Janes Apartments, a 288-unit multifamily community in the greater Chicagoland metro. The fund is 20 percent invested since its closing in October 2022.
More on eTradeWire News
JRK is also currently investing out of its $200 million MF Opportunities III Fund, which targets value-add multifamily assets built before 1990 as well as its $350 million JRK Hospitality Fund I, which targets both full-service and select-service hotel assets in primary and secondary US markets. Through its current and predecessor funds, JRK owns and operates $8 billion in assets.
Woodbury Park is a 224-unit townhome community in Woodbury, Minnesota, 10 miles east of downtown Minneapolis. Located at 2150 Vining Dr, Woodbury Park was delivered in 1999 and sits on 15.1 acres of land. The 287,975-square-foot property offers a mix of one-, two-, and three-bedroom units spread across 23 residential buildings with a centralized community clubhouse. Amenities also include a resort-style swimming pool, outdoor fire pits, 24-hour fitness center, and outdoor grilling stations. Multifamily assets in Woodbury are in high demand due to the submarket's reputation as one of the best suburbs in the nation and within a top-rated school district. Fortune Magazine recognized Woodbury as one of the top 14 Best Places to Live in the United States in 2022. Woodbury Park was over 99% occupied at closing.
333 Fremont is an 8-story, high-rise community located in the heart of San Francisco. Delivered to market in 2014, it was originally constructed as condominiums. The eight-story tower features a mix of one- and two-bedroom units. The property is centrally located in San Francisco's East Cut neighborhood, one of the city's newest neighborhoods near SOMA, South Park, the Financial District, and the Embarcadero. The property is within walking distance to various entertainment, retail, and employment hubs within the city. The BART Embarcadero Station is within walking distance connecting residents to the entire Bay Area. Occupancy was 95% at close.
More on eTradeWire News
Keith Collins, Abe Appert and Ted Abramson of CBRE marketed Woodbury Park; and Philip Saglimbeni, Stanford Jones, and Alexander Tartaglia of Institutional Property Advisors marketed 333 Fremont.
About JRK Property Holdings
Founded in 1991, JRK Property Holdings (http://www.jrk.com) is a Los Angeles-based real estate investment firm specializing in the ownership, management, leasing and redevelopment of properties in primary and secondary markets throughout the United States. JRK pursues value-add and core plus opportunities – investing in properties that it can reposition to deliver sustainable, growing streams of cash flow. JRK's $8 billion of assets under management is dedicated to a portfolio spanning 26 states with approximately 30,000 multifamily units, and luxury and flagged hotels.
"We are finding an increasing number of compelling investment opportunities amid treasury volatility and a reduced buyer pool," said JRK President Daniel Lippman. "With cap rate movement lagging the recent treasury reduction, we are seeing a window to acquire attractive cash yields on high-quality product at historically wide cap rates. We are thrilled with finding these two investments for the Fund, which offer strong in-place cash flow while still providing significant physical repositioning upside. Over the next 12-18 months, we intend to be aggressive buyers and invest another $1.5 to $2 billion."
JRK Platform 5 Fund is a $1 billion multifamily value-add and core plus fund which targets higher-quality, well-located multifamily investments built after 1990. This is JRK's third acquisition out of the fund in the past 30 days. Last month, JRK acquired Brook on Janes Apartments, a 288-unit multifamily community in the greater Chicagoland metro. The fund is 20 percent invested since its closing in October 2022.
More on eTradeWire News
- Double the Terror: NYC Halloween Film Festival Returns With Two Nights of Frights
- Idyllwild Radio Network You Tube Channel From TVS Records Showcases Beautiful Music Country Style
- Meet Local Author Carrie E. Pierce at Barnes & Noble Spokane
- State of Nayarit Named the Official Mexican Tourism Destination of the Vancouver Canucks
- Sequentex Names Xcitium as Featured Supplier for Cybersecurity Awareness Month
JRK is also currently investing out of its $200 million MF Opportunities III Fund, which targets value-add multifamily assets built before 1990 as well as its $350 million JRK Hospitality Fund I, which targets both full-service and select-service hotel assets in primary and secondary US markets. Through its current and predecessor funds, JRK owns and operates $8 billion in assets.
Woodbury Park is a 224-unit townhome community in Woodbury, Minnesota, 10 miles east of downtown Minneapolis. Located at 2150 Vining Dr, Woodbury Park was delivered in 1999 and sits on 15.1 acres of land. The 287,975-square-foot property offers a mix of one-, two-, and three-bedroom units spread across 23 residential buildings with a centralized community clubhouse. Amenities also include a resort-style swimming pool, outdoor fire pits, 24-hour fitness center, and outdoor grilling stations. Multifamily assets in Woodbury are in high demand due to the submarket's reputation as one of the best suburbs in the nation and within a top-rated school district. Fortune Magazine recognized Woodbury as one of the top 14 Best Places to Live in the United States in 2022. Woodbury Park was over 99% occupied at closing.
333 Fremont is an 8-story, high-rise community located in the heart of San Francisco. Delivered to market in 2014, it was originally constructed as condominiums. The eight-story tower features a mix of one- and two-bedroom units. The property is centrally located in San Francisco's East Cut neighborhood, one of the city's newest neighborhoods near SOMA, South Park, the Financial District, and the Embarcadero. The property is within walking distance to various entertainment, retail, and employment hubs within the city. The BART Embarcadero Station is within walking distance connecting residents to the entire Bay Area. Occupancy was 95% at close.
More on eTradeWire News
- MiAltar, The World's First Virtual Altar Platform to Honor Departed Loved Ones, Launches Ahead of Dia de Muertos Holiday
- Allfinda Launches Tour Ticket Comparison Platform
- Mounts Botanical Garden to Present RIBBIT THE EXHIBIT II with 18 Larger-Than-Life Frog Sculptures
- Toronto Liberty Village Speakers Invite you to our OPEN HOUSE!
- EquityProtect Announces Strategic Partnership with RE/MAX Gold
Keith Collins, Abe Appert and Ted Abramson of CBRE marketed Woodbury Park; and Philip Saglimbeni, Stanford Jones, and Alexander Tartaglia of Institutional Property Advisors marketed 333 Fremont.
About JRK Property Holdings
Founded in 1991, JRK Property Holdings (http://www.jrk.com) is a Los Angeles-based real estate investment firm specializing in the ownership, management, leasing and redevelopment of properties in primary and secondary markets throughout the United States. JRK pursues value-add and core plus opportunities – investing in properties that it can reposition to deliver sustainable, growing streams of cash flow. JRK's $8 billion of assets under management is dedicated to a portfolio spanning 26 states with approximately 30,000 multifamily units, and luxury and flagged hotels.
Source: JRK Property Holdings
Filed Under: Real Estate
0 Comments
Latest on eTradeWire News
- WLKATA Mirobot Fruit Picking Cell: Pioneering Project-Based Learning in Smart Farming
- Ribbon-Cutting Ceremony Marks the Completion of TAJ Flooring, Inc. Warehouse Facility Expansion
- Benchmark International Faciltd BT International Restaurant Distributors & Hart & Price Corporation
- Life Is Gouda Celebrates Grand Opening of Brick-and-Mortar Location at Life Essentials Refillery
- ProtectVirginia Petitions Virginia Dept of Environmental Quality for Cruise Ship Regulations
- Three Weeks Until Semantic Data 2024: Taxonomy, Ontology, and Knowledge Graphs Conference
- GrowHouse Changes Its Name to Yonder All Day Energy
- Cobb County Democratic Committee to Host "Raise Your Voice and Rejoice" Environmental Justice Event
- Southeast Ventura County YMCA 60th AnniversarGala Raises $402,050 To Support YMCA Youth Programs
- Bazemore Receives 'Champion of Georgia's Cities' Award
- Harbor Associates Acquires 211,000-SF Suburban San Diego Office Campus
- L-Tron's OSCR360 team to Exhibit at SC Solicitor's Conference in Myrtle Beach, SC
- Understanding the Price of Imatinib (Gleevec)
- Campaign for Kindness: Floris UMC is bringing back respect, humility, and compassion this election season
- 'Back To The Future' 40th Anniversary Highlights Fan Expo New Orleans, January 10-12, 2025
- Eden Prairie Home Available for the First Time in 23 Years
- Situ Ve Offers a New Perspective on Love Amid the Rising Passport Bro Movement
- Morrison Seger Venture Capital Partners Welcomes Oodles of Doodles to Its Portfolio
- Denommee Plumbing, HVAC & Electric Acquires Northeast Climate Heating & Cooling
- Sar Kamler Releases Debut Album: Butterfly: Colors of Armenian Duduk