$1b JRK fund makes third acquisition
JRK Property Holdings has acquired Duo Apartments, a 301-unit, class-A multifamily community in San Jose for $93.5 million.
Duo marks the third acquisition out of JRK Platform V, the Los Angeles-based real estate investment and management firm’s newest multifamily value-add fund which targets higher-quality, well-located multifamily investments built after 1990.
The $1 billion fund, which closed in October 2022, is 13 percent invested to date. The fund’s portfolio comprises institutional quality assets with an average year built of 2019 and geographic diversity between Florida, Kansas, and California.
JRK recently completed fundraising and is investing out of its $200 million MF Opportunities III, which targets value-add multifamily assets built before 1990. The investment vehicles are funded with capital from institutional investors, high-net-worth individuals, and family offices. Through its current and predecessor funds, JRK owns and operates $7 billion