JRK Acquires $285M M-F Portfolio from AIMCO

Los Angeles-based JRK Property Holdings Inc. has acquired a portfolio of multi-family properties from the Apartment Investment and Management Co. (AIMCO) for approximately $285 million. The acquisition was capitalized through a joint venture with JRK Birchmont Advisors, the private equity division of JRK. The transaction is the fourth carried out between JRK and AIMCO. The portfolio consists of 17 properties located in Atlanta; Charleston, S.C.; Cincinnati; Columbus, Ohio; Fort Collins, Colo.; and Richmond. The JRK Residential Group, JRK’s property management subsidiary, will manage the properties. JRK Property Holdings and its Residential Group subsidiary own and manage a $3 billion portfolio with 189 apartment communities and more than 38,000 units.