April 23, 2024 9:04 pm
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RK Properties adds to multi-family holdings…drops $21.2 million for 420 units

Business Real Estate Weekly by Rose Law Group

Glendale – A company formed by RK Properties in Long Beach, Calif. (William Rance King, Jr., manager) paid $21.2 million ($50,476 per unit) to acquire the 420-unit Northern Greens apartments located at 8150 N. 61st Avenue in Glendale. The seller was GA Northern Greens LLC, a company formed by Principle Real Estate Investors LLC in Des Moines, Ia. The deal was brokered by Bill Hahn, Jeff Sherman and Trevor Koskovich of Colliers International in Phoenix. RK Northern Greens Apartments LLC acquired the multi-family property with a $11.75 million loan from BB&T Real Estate Funding LLC in Chicago, Ill. Continued

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