JRK Property Eyes Older Apartments With $330M Fund
JRK Property Holdings has raised $330M in equity for its apartment fund, the fifth for the LA firm. The new fund will target older apartment properties.
JRK Property Holdings was founded 26 years ago by Jim Lippman to invest in apartments and hotels. In 2005, the company raised $203M for its Birchmont Capital Partners fund, allowing it to increase the size of its apartment portfolio, Commercial Real Estate Direct reports.
In 2008, it earned a place in the top 50 in the National Multi Housing Council's annual ranking of property owners.
JRK Property's JRK Multifamily Platform Fund, which raised $253M, and its Platform III Fund, through which it raised $600M five years ago, targeted relatively newer properties.
The firm now owns more than 32,000 units in 20 states.
