J.I. Kislak Unveils Multifamily Acquisition Strategy in Sunbelt States

Real estate investment company J.I. Kislak Inc. today announced plans to deploy $200 million to acquire multifamily properties with 150 or more units, including “broken” condominium projects, in Arizona, Florida, Texas and across the Sunbelt states. (The term “broken” generally refers to projects where developers owe more money on the project than they can make.) Based in Miami Lakes, Fla., the privately held firm specializes in real estate and financial services on behalf of the Kislak family and its partners. J.I. Kislak owns approximately 3,000 units and invests across multiple asset classes. The company is targeting multifamily properties with 150 or more units. “Multifamily assets have eroded in value due to the current economic recession,” says Stephen Braun, senior vice president of J.I. Kislak. “However, in a number of markets, apartment fundamentals are slowly beginning to stabilize. We believe that now is an opportune time to increase our presence by adding to our holdings in these local regions.”

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