JRK Property Holdings through its multifamily value add funds has acquired five garden-style apartment home communities in Florida, Texas, Louisiana and Maine totaling more than 1,500 units for $390 million. These transactions round out a year with nearly $700 million in new acquisition transaction activity for JRK.

The separate transactions all closing in the fourth quarter include the 266-unit Edgewater Crossing in Panama City Beach, FL;  301-unit The Halstead in Houston, TX;  336-unit Heights at Hammond in Hammond, LA; and a two-property, 620-unit portfolio in South Portland, ME.  

JRK, one of the largest multifamily landlords in the United States, acquired the properties, through its multifamily value-add funds: $800 million JRK Platform IV, which targets multifamily investments built after 1990; and its $330 million JRK MF Opportunities II, which targets assets built before 1990.  The investment vehicles are funded with capital from institutional investors, high-net worth individuals, and family offices.

JRK is planning to sustain its momentum into 2022, according to the President of JRK's investment division, James Broyer. "With over $5B of buying power from our two existing multifamily funds, our focus continues to be finding compelling opportunities across all vintages of properties in the majority of U.S. markets" said Broyer.