JRK Buys Three Equity Residential Properties for $400M
The L.A.-based investment firm closed $1.3 billion in acquisitions for about 3,400 units in 2025
By Nick Trombola January 7, 2026 11:00 am
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A Los Angeles-based investment firm acquired a three-property multifamily portfolio at the end of December, capping off a firm-record $1.3 billion in acquisition spending last year, Commercial Observer can first report.
JRK Property Holdings paid $400 million to Equity Residential for developments in L.A., Seattle and Hoboken, N.J., with a combined total of 803 units. It wasn’t immediately clear how much the firm spent on each property. JRK closed on about 3,400 units throughout 2025 via its JRK Platform 5 fund, which focuses on core-plus and value-add apartments built after 1990, and its JRK MF Opportunities III fund, which targets vintage properties built before 1990.
The transaction included the 408-unit Centennial at 2515 Fourth Avenue in Seattle; the 77 Park Avenue Apartments, named for its address in Hoboken, with 301 units; and C on Pico at 12301 W Pico Boulevard in L.A., which features 94 units.
“These recent acquisitions exemplify the type of high-quality, well-located assets we continue to target in today’s market,” Daniel Lippman, JRK president, said in a statement. “We believe the multifamily sector has reached an inflection point whereby we can acquire assets at a unique time where new supply subsides and long-term fundamentals remain strong. These dynamics create a compelling backdrop that gave us the conviction to be one of the nations’ most active buyers in 2025.”
Separately, JRK acquired Edge 1909, a 364-unit complex in Pittsburgh, along with the 382-unit Lumina and 210-unit Delaneaux in New Orleans in September. In June, the firm spent a combined $315 million on Chase Knolls, a 401-unit community in L.A., and WestEnd25, a 283-unit complex in Washington, D.C., from separate buyers, Commercial Observer reported at the time.
“We have been highly selective, prioritizing assets with strong fundamentals and downside protection,” Shaan Bhatia, JRK’s senior managing director and head of U.S. investments, said in a statement. “As capital markets normalize and supply pressures ease, we believe the coming years will present compelling opportunities to deploy capital at scale. Our expectation is to meet or exceed this year’s investment volume as we continue to focus on assets that can deliver durable cash flow and long-term value creation.”
Nick Trombola can be reached at ntrombola@commercialobserver.com.
