By Laura Calugar
JVM Realty has purchased Apex on Quality Hill, a 138-unit luxury community in downtown Kansas City, Mo. According to Yardi Matrix data, Cityscape Residential is the former owner of the property. JVM’s management branch will manage the asset, which is just one block from another company-owned community, the 252-unit Summit on Quality Hill.
Located at 1050 Jefferson St. in the historic part of the city, Apex on Quality Hill is just west of Kansas City’s central business and financial district. The pet-friendly property features a mix of one- and two-bedroom units, each equipped with granite countertops, washers/dryers, private patios and balconies, dishwashers and stainless steel appliances. Completed in 2017, the complex boast amenities including:
- electric car charging stations
- swimming pool
- fitness center
- business center
- heated garage parking
KC Streetcar, a free-to-ride streetcar system, is located just a few blocks away from the property. Apex on Quality Hill provides easy access to interstates 35, 70 and 670, and is also near both the Power & Light District and the Crossroads Art District.
Invested equity funds
JVM spent money from two of its equity funds—Fund 6 and Premier Fund II—for Apex on Summit Hill and its sister community. The funds, whose investors include high-net-worth individuals, trusts and insurance companies, closed late last year. Co-invested in five properties in Indianapolis, Kansas City and suburban Chicago, the funds raised $109 million combined.
JVM Realty also owns The Residences at New Longview, a 309-unit luxury community in Lee’s Summit, a submarket of suburban Kansas City.
Image courtesy of JVM