Home Real Estate JVM Realty Acquires Luxury Apartments in Suburban Chicago
Real Estate

JVM Realty Acquires Luxury Apartments in Suburban Chicago

JVM Realty Corp., a multifamily real estate investment and property management firm, has acquired Ellison Apartments, a newly constructed, 113-unit luxury apartment community in Des Plaines, Illinois. “This property aligns perfectly with our investment approach, emphasizing quality and convenience for our residents and exceptional value for our partners,” said Jay Madary, president and CEO of JVM.

Located at 1555 Ellinwood Avenue, Ellison Apartments was completed in 2019 and provides studio, one-bedroom and two-bedroom layouts. The property features modern amenities, including a pool, work pods, a coffee bar, and a business center. The building will also feature first-floor retail space.

CBRE brokered the deal. “The Ellison is an exceptionally well-built and highly amenitized boutique multi-family asset,” said John Jaeger, an executive vice president in CBRE’s Chicago office.

This is the ninth Illinois property in JVM’s current portfolio. The company owns and operates a multifamily portfolio exceeding $1.5 billion in the greater Midwest.

Source link

Leave a comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Related Articles

Real Estate

Memphis Dermon Building Converting to 150-Room Hotel

The Dermon Building in Memphis was built 99 years ago, designed as...

Real Estate

Developer Duo Secures $120M Refi for Charleston Harbor Rental Community

Woodfield Investments and Argosy Real Estate Partners have secured $120 million to...

Real Estate

Bonita Springs Site for 252-Unit Apartment Community

Madison Communities and Heitman have closed a $44 million construction loan for...

Real Estate

$21.5M Loan for Tacoma Apartments Secured by Berkadia

Berkadia has secured financing for the acquisition of The Duo Apartments, a...