JRK Property Holdings, Inc. (JRK) has acquired The Harrison Glendale, a 164-unit mixed-use luxury multifamily property in Downtown Glendale, Calif., in a $90.7 million off-market transaction.
JRK, one of the largest multifamily landlords in the United States, is seeking to expand its multifamily holdings with more urban infill products, according to Daniel Lippman, vice president of acquisitions. The company’s portfolio primarily consists of suburban garden-style communities.
“While it is somewhat contrarian, we see relative value in select urban infill products based on how it’s priced compared to suburban products, and are focused on growing our portfolio to include more urban core assets than we’ve historically held,” said Lippman.
The Harrison Glendale is located at the southwest corner of Wilson and Central avenues in Downtown Glendale, 12 miles north of Downtown Los Angeles. It is one block from the Glendale Galleria and The Americana Brand, whic
