JRK Property Holdings, a real estate firm, has recently purchased Brook on Janes Apartments in Bolingbrook, Illinois. The 288-unit Class-A multifamily community was acquired by the company as part of their expansion into the Chicago suburb.
The seller in this transaction was represented by Kevin Girard, Roberto Casas and Matt Lawton from JLL’s Chicago office. The acquisition was made possible with the help of Annie Rice and Brandon Smith from JLL’s Los Angeles office who arranged attractive 10-year fixed-rate agency financing.
This purchase adds to JRK’s existing portfolio in the Chicago area which includes a 504-unit property in Lombard and an 838-unit property in Arlington Heights. It was funded through JRK Platform 5 Fund, a $1 billion fund that focuses on value-add and core plus multifamily investments built after 1990.
With this latest addition to their portfolio, JRK now owns institutional quality assets with an average year built of 2019 located across Illinois, Florida Kansas and California. According to Daniel Lippman , President of JRK Property Holdings , “This acquisition is another step towards expanding our presence in suburban Chicago where we have had great success.”
