Source: JRK Property Holdings / #Apartments #Multifamily
LOS ANGELES, CA - The Los Angeles-based real estate investment firm JRK Property Holdings has concluded another successful year with over $1 billion in transactions in 2015.
“JRK remains confident in the outsized growth of the coastal markets,” notes James Bloomingdale, JRK Senior Vice President and Head of Acquisitions. “2015’s focus was on higher quality value-add assets given the compressed cap rate environment, as we believe they offer the best risk adjusted return.”
JRK is upgrading amenities at most properties, including installations of private bowling alleys, resort-style pools, putting greens, and state-of-the-art Technogym fitness centers in addition to contemporary interior finishes and smart designer appliances.
The company looks to not only sustain a rigorous acquisition and disposition schedule in 2016, but more than double its efforts this coming year as fund investment cycles come to a conclusion and new opportunities are identified for both its $600 million platform fund and $230 million value-add fund.
JRK has totaled a commercial portfolio throughout the United States valued at approximately $5 billion, consisting of over 32,000 multifamily units, six luxury hotels, and over two million square feet of office and industrial properties.