JRK Pays $400M for 3-Property Portfolio
The assets are in Seattle, Los Angeles and Hoboken, N.J.
JRK Property Holdings has acquired a three-asset multifamily portfolio for $400 million from Equity Residential. The properties are in Seattle, Hoboken, N.J., and Los Angeles.
Equity Residential purchased the three properties between 2005 and 2016 from three different firms, Yardi Matrix data shows. The portfolio comprises the 408-unit Centennial, the 301-unit 77 Park Ave. and the 94-unit C on Pico.
During the first half of 2025, Seattle and Los Angeles ranked second and seventh, respectively, among the top 10 markets in the U.S. with the highest multifamily transaction volumes. Seattle registered almost $1.8 billion in multifamily sales in the first six months of last year, while Los Angeles had a sales volume of $970.7 million.
The portfolio, up close
Centennial is at 2515 Fourth Ave., in Seattle’s Belltown neighborhood. The community came online in two phases between 1990 and 2000 and comprises two buildings rising five and 24 stories. The property encloses studio, one-, two- and three-bedroom residences ranging from 363 to 1,286 square feet. Amenities include a fitness center, two swimming pools, two spas and a multi-level parking garage.
The Hoboken property, 77 Park Ave., came online in 2000 and features studio, one-, two- and three-bedroom units between 569 and 1,546 square feet, across 13 floors. Community amenities include a fitness center and covered parking with 400 spots. Midtown Manhattan is within 6 miles northeast.
C on Pico is a five-story building at 12301 W. Pico Blvd., enclosing studio, one- and two-bedroom apartments ranging from 365 to 858 square feet. Shared community features include a fitness center, a clubhouse and subterranean parking.
JRK’s recent multifamily purchases
The present acquisition follows a long multifamily buying spree on JRK’s part, which amounted to $1.3 billion in the second half of 2025. With $15 billion in assets under its ownership and management, JRK’s total portfolio comprises approximately 80,000 units across 23 states.
In September 2025, the company entered the New Orleans market with a multifamily portfolio acquisition, which comprised 592 units across two properties. Two months prior, JRK bought two communities on the East and West Coasts for a total of $315 million.
