Transactions - JUNE 9, 2017

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JRK Property raises $330m for apartment fund

by Andrea Waitrovich

JRK Property Holdings has raised $330 million for its latest apartment investment fund, JRK MF Opportunities II.

JRK MF Opportunities II targets value-add multifamily assets built before 1990. Through its prior $300 million fund, which was launched in 2012, JRK acquired 14 properties totaling more than 6,000 units throughout the United States.

Recently, JRK Property Holdings acquired Clover Creek, a 504-unit apartment community in suburban Chicago. It was acquired out of JRK MF Opportunities II.

Built in 1986, Clover Creek is located in Lombard, Ill., a premier suburban Chicago submarket in the heart of DuPage County, 30 minutes west of downtown Chicago.

This was the second significant investment for JRK in Chicago. One of the largest multifamily owners in the United States, JRK entered the market in 2014 with the acquisition of The Residences at Arlington Heights, an 838-unit community in Arlington Heights, located 20 miles north of the Clover Creek prop

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