JRK Property Holdings has plans to acquire $1.5 billion in multifamily assets in 2021. The firm started the incentive by acquiring two garden-style apartment home communities — Carrington Park at Gulf Pointe in Houston and Fieldpointe of St. Louis in St. Louis — in separate transactions valued at nearly $81.5 million.
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 Drive, 15 miles southeast of downtown Houston.
Built in 1969, Fieldpointe of St. Louis features 260 apartment homes and 58 townhomes at 1951 Oberline Drive in the St. Louis suburb of Maryland Heights, Mo. Collectively, the properties are 96 percent occupied.
The two separate transactions follow JRK’s completion of a 4,061-unit multifamily portfolio sale comprising 12 communities ranging in size from 64 to 709 units located across California, Colorado, Florida, Georgia, North Carolina, Ohio and Tex
