A 301-unit building in Hoboken, 77 Park, was among a three-property portfolio of
multifamily assets that was part of a $400 million sale by Equity Residential to JRK
Property Holdings that recently was facilitated by CBRE.
The sale, which included properties in Los Angeles and Seattle, was one of only a few
multifamily multi-state portfolios completed nationwide in 2025.
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 property was completed in two phases in 1990 and
2000.
The final community, C on Pico, a 94-unit community, is in West Los Angeles.
Members of CBRE’s West Coast team, Rachel Parsons, Derrek Ostrzyzek and Kenji
Thomas, arranged the portfolio sale for Equity Residential. CBRE’s Ryan Greer secured
financing for JRK Property Holdings.
“This portfolio sale underscores the continued demand for high-quality, core-plus
multifamily assets in key gateway markets,” Parsons said. “JRK’s acquisition reflects
strong confidence in long-term fundamentals across these regions.
“We’re proud to have facilitated one of the few multi-state portfolio transactions
completed nationally in 2025. This deal required seamless collaboration and deep
market expertise to deliver a successful outcome for both parties.”
