**CBRE Facilitates $400M Sale of Multifamily Portfolio to JRK Property Holdings**
CBRE has facilitated the $400 million sale of a three-property multifamily portfolio on behalf of Equity Residential. The portfolio, consisting of 803 total units, was acquired by JRK Property Holdings.
The transaction includes three core-plus assets located in major gateway markets: Seattle, Hoboken, and Los Angeles. Centennial, the largest of the three, is a 408-unit residential complex in Seattle, comprising both a high-rise tower and a mid-rise building. The second property, 77 Park in Hoboken, offers 301 units and was originally completed in 2000. The final property, C on Pico, is a 94-unit community located in West Los Angeles.
CBRE’s investment sales team—Rachel Parsons, Derrek Ostrzyzek, and Kenji Thomas—represented Equity Residential in the transaction. Financing for JRK Property Holdings was secured by Ryan Greer of CBRE’s Debt and Structured Finance division.
“This portfolio sale underscores the continued demand for high-quality, core-plus multifamily assets in key gateway markets,” said Rachel Parsons, Executive Vice President at CBRE. “JRK’s acquisition reflects strong confidence in long-term fundamentals across these regions.”
