FOUNDER
William Rance King, Jr. ..... President
RK Properties was founded in 1976 by William Rance King Jr (RK) after a 10 year history in the business machines industry for a Fortune 500 company. He progressed through the ranks from a trainee salesman to National Director of Sales and was instrumental in the development of software and sales of early style computers to commercial real estate brokers, who introduced him to the apartment business. His first apartment building was purchased in Las Gatos in Northern California when he was branch manager in San Jose, shortly thereafter he was moved to Los Angeles as regional manager and went back to Long Beach to live and purchased another building there.
His first investor were friends in the business machine industry who wanted to get involved in his real estate investments and that quickly grew to more investors and the first limited partnership investment. In 1994, RK put together the first TIC structure and of course that took off quickly and since that time the TIC has accounted for the largest percentage of the investor base. In mid-2017, the structure was changed to the DST which has many advantages for the investor base and virtually the entire industry uses the DST today.
Over the past 43 years R K Properties has syndicated 152 properties and has had 136 go full cycle. A track record that simply does not exist from any other sponsor in the industry. Markets that we are and have been involved in include California, Utah, Colorado, Arizona, Nevada, Florida, Georgia, North Carolina and South Carolina.
During 2019 we have sold and closed 5 sales and have purchased 3 much larger properties. We have also sold another 3 properties but delayed the close until early 2020 so as to give the investors more time to consider exchange and cash out options in another tax year. The total ‘closed’ sales volume for 2019 is over $300MM and next year will approach $500MM. We expect all of the TIC structured properties to be sold in the next two years with the last one closing in January of 2022.
