Los Angeles-based real estate firm JRK has acquired three properties from Equity Residential, the company announced earlier this week - including a large apartment tower in Belltown.

The $400-million purchase totaled 803 apartments, including the 408-unit Centennial development located at 2515 4th Avenue. The other two properties were the 77-unit C on Pico apartments in Los Angeles and the a 301-unit development at 77 Park Avenue in Hoboken.

“These recent acquisitions exemplify the type of high-quality, well-located assets we continue to target in today’s market,” said JRK president Daniel Lippman in a news release. “We believe the multifamily sector has reached an inflection point whereby we can acquire assets at a unique time where new supply subsides and long-term fundamentals remain strong. These dynamics create a compelling backdrop that gave us the conviction to be one of the nations’ most active buyers in 2025.”

JRK acquired nearly 3,400 residential units during 2025, focusing on supply-constrained markets. Other acquisitions during 2025 were located in Los Angeles, Washington, D.C., Miami, New Orleans, and Pittsburgh.

“We have been highly selective, prioritizing assets with strong fundamentals and downside protection,” said JRK senior managing director Shaan Bhatia. “As capital markets normalize and supply pressures ease, we believe the coming years will present compelling opportunities to deploy capital at scale. Our expectation is to meet or exceed this year’s investment volume as we continue to focus on assets that can deliver durable cash flow and long-term value creation.”