As 2025 wound down, many multifamily firms were busy closing deals before the end of the year. 

For instance, Waterton made two purchases earlier in the month, but the Chicago-based firm wasn’t alone. Other firms were active as 2025 came to a close, making multiple deals. 

Here’s a look at some of those companies.

JRK buys three properties from EQR

In late December, JRK acquired a $400 million, three-property multifamily portfolio from Equity Residential, capping a record year in which the Los Angeles-based real estate investment firm acquired more than $1.3 billion of multifamily assets nationwide, according to a press release shared with Multifamily Dive. 

The newly acquired portfolio includes Centennial, a 408-unit property in Seattle; 77 Park Avenue, a 301-unit property in Hoboken, New Jersey; and C on Pico, a 94-unit asset in Los Angeles. 

In mid-December, JRK acquired Edge 1909, a 364-unit class A multifamily community in the Strip District of Pittsburgh. Overall, the firm closed on nearly 3,400 units across multiple transactions in 2025.

“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,” Daniel Lippman, president of JRK, said in a press release. “These dynamics create a compelling backdrop that gave us the conviction to be one of the nation’s most active buyers in 2025.”

The Milestone Group acquires two assets

In December, The Milestone Group purchased two class A apartment communities: Bucking Horse Apartments, a 322-unit asset in Fort Collins, Colorado, and Prelude at Paramount, a 280-unit property in Meridian, Idaho. 

The garden-style Bucking Horse Apartments, which closed on Dec. 11, include one-, two-, and three-bedroom units, and three-bedroom garage townhomes. “The Fort Collins market is characterized by strong fundamentals for growth, high barriers to entry, and 95% market occupancy with limited supply in the pipeline,” said Milestone Vice President of Acquisitions Rich Ritter in the press release. 

The Prelude at Paramount, built in 2018 and closed on Dec. 30, includes one-, two- and three-bedroom units that feature smart-home technology and recently renovated common-area amenities. Meridian is one of the fastest-growing cities in the region, having experienced more than 20% population growth since 2020, according to Milestone.

“Prelude at Paramount provides significant enhancement potential in one of the most dynamic growth corridors in the Mountain West, supported by exceptional demographic and economic momentum,” Ritter said in the release.

Aimco agrees to sell two properties

Denver-based REIT Aimco has been winding down its portfolio. On Dec 23, it took another step in that liquidation by agreeing to sell two properties located in Plantation, Florida, and Nashville, Tennessee, totaling 660 units, to Harbor Group International, according to a press release.

HGI, which purchased five suburban Boston-area properties from Aimco for $740 million last year, completed due diligence and made a nonrefundable deposit of $5 million to the REIT.  Closing is scheduled for the first quarter of 2026, pending the assumption of the in-place mortgage loans, which are currently being pursued for approval.

Aimco also completed the sale of its Brickell Assemblage, which includes The Yacht Club Apartments and the adjacent 1001 Brickell Bay Drive office building located in Miami, for $520 million. The transaction included $85 million of transferable seller financing notes provided from the REIT to the buyer at closing.

"These important transactions highlight Aimco's commitment to unlocking the shareholder value created through years of prudent investing and active management of the portfolio," Aimco Chairman Dary Stone said in the press release.

Bell Partners makes two acquisitions

On Dec. 22, Bell Partners acquired Alexan Access, a newly constructed 383-unit luxury apartment community in Lynnwood, Washington, from Trammell Crow Residential for $142 million, according to a press release from JLL, which represented the seller and arranged the $83.177 million financing.

Built in 2023, Alexan Access consists of studios and one-, two- and three-bedroom units across four buildings with luxury-grade features. The amenities include a resort-style pool and spa, a sky lounge with a rooftop deck, an athletic club with a second-level yoga and spin studio, an outdoor recreational area featuring a pickleball court and a business lounge with work-from-home nooks.

The property sits along the Interstate 5 corridor, allowing residents to reach major employers in Seattle and on the Eastside in under 25 minutes. "This transaction demonstrates the continued strength of the Seattle metropolitan multifamily market," JLL Senior Director Chris Ross said in the press release.

On Dec. 22, Bell acquired the 350-unit Trelago Apartments in Maitland, Florida, from Kettler for $111.25 million, according to the Orlando Business Journal. The firm rebranded it to Bell Trelago. Walker & Dunlop represented the seller, which bought the asset in 2019.

Jackson Square Properties sells two properties

On Dec. 18, A.G. Spanos sold two properties in Sacramento that it developed and completed in 2024 to Jackson Square Properties for $161.5 million, according to a press release from CBRE, which represented the seller.

The Zeta Luxury Apartments features 270 units with studio, one- and two-bedroom floor plans. Its amenities include a resort-style saltwater pool, a 24-hour athletic center, pickleball courts, and a luxury clubhouse with gaming tables, a movie lounge, a demonstration kitchen, a gourmet coffee bar, beer and wine on tap and private work areas.

have 266 units with one-, two- and three-bedroom floor plans. Its amenities include a heated saltwater swimming pool, a rooftop deck with a fireplace and outdoor TVs and a resident lounge with gaming tables and a demonstration kitchen. 

“Zeta and Solasta offer best-in-class amenities and prime locations, creating a strong foundation for Jackson Square Properties to capitalize on the region’s continued growth and demand for high-quality multifamily housing,” CBRE Executive Vice President Marc Ross said in the press release.

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