JVM Acquires Luxury Apartment Community
- Nov 08, 2016
By IvyLee Rosario
Aurora, Ill.— JVM Realty Corp., a vertically integrated multifamily real estate investment and property management firm, announced its acquiring of The Aventine at Oakhurst North, a 464-unit luxury apartment community.
Offering one and two-bedroom apartment homes, The Aventine community will undergo a massive renovation, including interior updates to the kitchens and bathrooms, contemporary lighting packages, new hardware and flooring. The apartments feature private entrances, 9-foot or vaulted ceilings, large soaking tubs, full size washers and dryers, patios and balconies and loft-style layouts.
The exteriors will be newly painted, have the grounds manicured and offer an enhanced pet-friendly atmosphere with an additional dog park and pet washing area to be added.
“Our acquisition of The Aventine at Oakhurst North is exciting to us for multiple reasons. First of all, it’s already an outstanding luxury community that features an attractive amenity package and our upcoming renovations to The Aventine’s interiors and exteriors will only enhance its considerable appeal to renters,” Jay Madary, president and CEO of JVM, told Multi-Housing News.
In addition to renovations, the community will also feature a clubhouse upgrade to a 24-hour fitness center, complimentary Wi-Fi in the common areas, an indoor lap pool, outdoor pool and sundeck, outdoor grilling station, fire-pit, coffee bar, garage parking and resident business center.
“Secondly, as is the case in the secondary and tertiary Midwest markets in which we own and operate communities, the long-term health of the apartment sector in Chicago’s suburbs looks very bright,” added Madary.
“Suburban Chicago is a very steady market, one with expanding job opportunities and a robust segment of renters by choice who are eager to live in a top-line community such as The Aventine. All indicators point to demand in Aurora remaining strong for a long time.”
Top image courtesy of Yardi Matrix and bottom image courtesy of JVM Realty Corp.