JRK Property Picks Up Nearly 2,400 Units in 5 States
Denver-based apartment REIT AIMCO (NYSE:AIV) recently closed on the sale of 12 multifamily properties to Los Angeles-based JRK Property Holdings for $125.6 million, or about $52,575 per unit.
The portfolio includes 2,389 units in Colorado, Georgia, Ohio, Michigan and South Carolina. The properties are between 21 and 40 years old and total nearly 1.34 million square feet of rentable space. Eight of the 12 properties are in Ohio and Colorado.
AIMCO completed $816 million in property sales during the third quarter generating $348 million in net proceeds. It owns more than 1,100 apartment properties nationwide with an occupancy at 95 percent.
JRK Property Holdings is a commercial real estate owner and operator and fund management firm.
NoCoApartments.com note: This includes Fort Collins Properties – Courtney Park Apartments, Governors Park Apartments, Scotch Pines Apartments and Village Gardens Apartments. If you would like more details, let us know. brian@nocoapartments.com or 970.267.3323.