CBRE Arranges $400M Three-Property Multifamily Portfolio Sale
CBRE facilitated the $400 million sale of a multifamily portfolio on behalf of Equity Residential.
JRK Property Holdings acquired the three-property portfolio, which includes assets in Seattle, Hoboken, and Los Angeles. Rachel Parsons, Derrek Ostrzyzek and Kenji Thomas with CBRE arranged the portfolio sale for Equity Residential. Ryan Greer, with CBRE’s Debt and Structured Finance practice, secured financing for JRK Property Holdings.
The portfolio consisted of three core-plus assets totaling 803 units. Centennial, the largest asset, is a 408-unit complex in Seattle, configured in a high-rise tower and a mid-rise building. The second asset, 77 Park in Hoboken, features 301 units and was completed in 2000. The final community, C on Pico, a 94-unit community, is in West Los Angeles.
“This portfolio sale underscores the continued demand for high-quality, core-plus multifamily assets in key gateway markets. JRK’s acquisition reflects strong confidence in long-term fundamentals across these regions,” said Parsons, executive vice president at CBRE.
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout