Sponsor profile
RK Properties, tracked as Rance King Properties, is a multifamily real estate sponsor pursuing value-add apartment acquisitions across California, Arizona, Nevada, Colorado Springs, Utah, Georgia, and North Carolina, emphasizing conservative underwriting and lower leverage. The sponsor reports acquiring 163 properties from 1976 through 2024, with 147 having completed a full investment cycle, cumulative acquisitions exceeding $3 billion, and more than 7,000 investors served. Its multifamily portfolio is reported to exceed $1 billion in market value. Top1031 tracks 17 RK-branded Delaware Statutory Trust programs first filed between 2017 and 2022.
Strategy and geography
RK Properties concentrates on value-add multifamily acquisitions across California, Arizona, Nevada, Colorado Springs, Utah, Georgia, and North Carolina, describing an approach built on conservative underwriting and lower-leverage financing 1. The sponsor reports a current multifamily portfolio exceeding $1 billion in market value 2.
Track record
The firm reports acquiring 163 properties from 1976 through 2024, of which 147 have completed a full investment cycle, with cumulative acquisitions exceeding $3 billion and more than 7,000 investors served 1.
Delaware Statutory Trust programs
Top1031 tracks 17 RK-branded Delaware Statutory Trust programs first filed between 2017 and 2022, including RK Edwards Mill DST, RK Montecito Pointe DST, RK CODA DST, and RK Riverstone DST 3.
Representative completed program
Edwards Mill Townhomes & Apartments, a 220-unit Raleigh, North Carolina community, was acquired in August 2017 from Starwood Capital Group for roughly $34.5 million and structured as RK Opportunity Fund IV's third and final property before conversion to a DST. RK Properties sold the community in January 2023 to Nashville-based Covenant Capital Group for $56.5 million 4.