2021–present
In 2021, JRK acquired five multifamily communities totaling over 1,500 units across Florida, Texas, Louisiana, and Maine, for $390 million. These transactions were conducted through JRK Platform 4 and JRK Multifamily Opportunities II and included properties such as a 266-unit complex in Panama City Beach, Florida, and a 500-unit garden-style development in Portland, Maine.[7] It also acquired MF Communities - Carrington Park at Gulf Pointe, in Houston, TX and Fieldpointe of St. Louis in St. Louis, MO, for $81.5 million.[8] The company also expanded its hospitality portfolio during this time, acquiring and renovating boutique and full-service hotels in locations including Santa Monica, Santa Barbara, San Diego, Palm Springs, San Francisco, New York City, Nashville, Portland Oregon, and Puerto Rico.
In 2023, JRK Property Holdings started deploying $1 billion multifamily fund, JRK Platform 5.[9] JRK is actively acquiring properties through its $1 billion Platform 5 Fund, a multifamily value-add and core-plus vehicle focused on high-quality assets built after 1990 with operational and or physical repositioning opportunities.[10] In January 2024, JRK completed the acquisition of two Hyatt-branded hotels—Hyatt Place and Hyatt House—in San Juan, Puerto Rico, totaling 275 rooms, marking its first hotel acquisitions outside the continental United States. In July 2024, it acquired the Hilton La Jolla Torrey Pines resort in California for $165 million.[11] In the same year, JRK also acquired Class A multifamily communities including Woodbury Park (a 224-unit townhome property outside Minneapolis), 333 Fremont (a high-rise multifamily asset in San Francisco), Brook on Janes (a 288-unit community in suburban Chicago).[12][13][14][15]
