RK Properties has acquired and sold out 53 Tenant-in -Common (TIC) transactions of which 33 have gone full cycle.
RK Properties has recently sold out $22.5 million in capital raised for Edwards Mill the company’s first Delaware Statutory Trust (DST) structure. The offering was designed for investment opportunities for 1031 exchange buyers and direct capital investors.
RK Properties focuses on acquiring multifamily assets in strong locations with historical rent growth and a value-add opportunity.
Built in 1984, Edwards Mill is a 220-unit class A community situated on 36.5 acres, with one-, two- and three-bedroom townhome style apartment homes that average 1,213 square feet. Current rents average $1,129 per month, and the complex is currently 95 percent occupied.
RK Properties is implementing an improved marketing and value-add campaign targeted towards repositioning the property with improved rents and management.
To date, the company has purchased and managed more than $1.5 billion in assets across the country.
