JRK Property buys apartment communities in Houston and St. Louis for $81.5M

Multifamily landlord JRK Property Holdings purchased two apartment communities, one in Houston and one in St. Louis, in separate transactions for nearly $81.5 million, Propertyfundsworld reported Feb. 3.

The 258-unit Carrington Park at Gulf Pointe in Houston consists of 10 three-story buildings on a 16-acre site at 11666 Gulf Pointe Drive, while the Fieldpointe of St. Louis features 260 apartment units and 58 townhomes at 1951 Oberline Drive. The two properties have a combined occupancy rate of 96%.

The transactions were made through the company's $800 million JRK Platform IV LP fund and $330 million JRK MF Opportunities II LP fund, according to the report.