OAK BROOK, IL – JVM Realty Corp., a leading vertically integrated multifamily real estate investment and property management firm, announced it has bought Maple & Main, a 115-unit luxury apartment community in Downers Grove, Ill. The company also announced it will close its JVM Realty Apartment Fund 7 and JVM Multi-Family Premier Fund III funds to investment by the end of the year. Combined, the funds are expected to raise more than $115 million.
“The acquisition of Maple & Main and the closing of these two funds mark an exciting end to a fantastic 2019 for our company,” said Jay Madary, president and CEO of JVM. “Maple & Main is an outstanding asset located in suburban Chicago, one of our target Midwestern markets, and I’m confident it will perform very well and deliver the targeted returns to our investors. It’s in a highly desirable location and has exactly the kinds of features and amenities that meet the high expectations of today’s apartment residents.”
Maple & Main was completed in 2018 and will be managed by JVM Management Inc. JVM now owns and operates five apartment communities in suburban Chicago.
Maple & Main is a transit-oriented development with a walk score of 88 – meaning “very walkable” – which is high for a suburban location. The community is located approximately 20 miles west of Chicago and is just two blocks from the Downers Grove Metra train station, where residents can take a 35-minute express train to downtown Chicago. Maple & Main also offers simple access to I-355 and I-88 and is less than 35 minutes from both of the major airports in metro Chicago.
Community amenities at Maple & Main include a fitness center, a yoga room, a rooftop sky lounge and terrace, a clubroom with an entertaining kitchen, work-from-home stations, a package room with refrigerated storage, a pet spa and a heated pool surrounded by a sun deck with gourmet grilling stations. The ground floor of the community also features The FoxTail, a 4,289-square-foot restaurant that will be open in January 2020. Owned by a local company with other nearby successful establishments, the restaurant will generate income that will add to the performance of the property and will provide another amenity for residents.
Maple & Main offers one-, two- and three-bedroom homes as well as studios. The units feature 9-foot ceilings, Whirlpool stainless steel appliances, quartz countertops, smart-home technology, plank flooring in all living areas, large walk-in closets and full-size washers and dryers. The homes also have private patios and balconies. Select homes have 14-foot ceilings.
Fund 7 and Premier Fund III are currently co-invested in five apartment communities. The properties include The Landing at Briarcliff in Kansas City, Mo., Summit Ridge Apartments in Lee’s Summit, Mo., Randall Highlands in North Aurora, Ill., Uptown La Grange in La Grange, Ill., and Maple & Main. The total acquisition cost of the five properties was $291.4 million.

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ALEXANDRIA, VA – CIM Group announced that it has bought Skyline Towers, two 26-tale high-rise apartment buildings located at 5599 Seminary Road in the Bailey s Crossroads submarket of Falls Church, Virginia.
The buildings were originally constructed in 1971 and feature a total of 939-units with an array of amenities in more than one million square feet of space. This acquisition brings CIM s Northern Virginia multifamily portfolio to more than 2,400 apartment units, and more than 3,800 apartment units in the greater Washington D.C. area.
The two towers sit on 12.68 acres, surrounded by manicured grounds with mature trees and grassy areas, and are situated to the north and to the south of an expansive outdoor pool area. The community offers residents a 24-hour fitness center, game room, conference rooms, screening theater, on-site salon and convenience store.
Located in the Bailey Crossroads area of Fairfax County, the property directly borders Arlington and Alexandria counties and provides simple access to major area connectors including the I-395, the Capital Beltway, I-95, George Washington Parkway. Skyline Towers is located a small distance from the area s major employment centers such as three miles from Downtown Arlington, five miles from Downtown Alexandria, six miles from Amazon s HQ2, and is just six miles from Washington D.C. s Ronald Reagan Airport.
CIM has been an active owner, developer, and operator in the greater Washington, D.C. area for more than 15 years. CIM s greater Washington, D.C. portfolio, has included office, hotel, and residential properties. In Alexandria, CIM currently owns and operates Mason at Van Dorn, a 1,180-unit residential community, and Park Place at Van Dorn, a 285-unit residential community. CIM recently announced the start of construction to convert the former Crowne Plaza Hotel Alexandria at 901 N. Fairfax into 122 residential condominiums and 41 townhomes.

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HOUSTON, TX – Nitya Capital, and Tema Development have signed a milestone strategic framework agreement (SFA) announcing the development of Two Hermann Place, an iconic and luxurious multifamily high-rise. Two Hermann Place is located in the heart of Houston s Hermann Park inside the Museum District.
Both organizations look forward to a long-term partnership in efforts to design new structures and redevelop existing assets into modern and state of the art multi-use real estate projects. This partnership starts with Two Hermann Place as a world-class multifamily project, and together we strive to place greater strength, synergy and mobility into the development of this market sector by utilizing our collective expertise and competence. We are both excited and confident that this partnership will be a fantastic success, said Swapnil Agarwal, CEO of Nitya Capital.
Two Hermann Place, a new luxury apartment tower spanning 32 tales with state of the art finishes and amenities, is scheduled for completion in the winter of 2022. The highly anticipated new community, located at 1661 Hermann Drive near Jackson Street in the Museum District, provides residents with unobstructed views of the downtown skyline and Houston s most coveted and dynamic green space, just minutes from Rice University, The Texas Medical Center and Downtown. The groundbreaking is scheduled for Q1 2020, said Haytham Haidar, Tema s Director of Development.
During our design process we carefully researched every detail of this charming and historical area of Houston to build a residential space that effortlessly blends with the gorgeous Hermann Park backdrop, said Nadim Zabaneh Vice President of Tema Development. The development team of Nitya and Tema went to fantastic lengths to capture the neighborhood s appeal including matching the stone with that of nearby Museum District. It was vital for us to maintain the character of the Hermann Place area to make an authentic park-like setting for our residents, said Mr. Zabaneh.
The iconic 32-tale building offers 295 residential units with 13 bespoke floor plans, featuring high ceilings, quartz countertops and backsplashes, chef inspired appliances, grand closets with premium storage systems in every unit, spacious hallways, USB charging stations and NEST thermostats. High-end amenities for residents include a resort-style pool with a sunbathing ledge and cabanas, top floor sky lounge, café bar, 11,000 square foot amenity deck on the 8th floor, conference area, dog park, barbeque area and fitness center overlooking the park providing an elegant yet relaxed aesthetic. Two Hermann Place will provide 24 hour valet service with transportation shuttles to nearby destinations, and amenities including EV charging stations and private garages. The average residence size is 1,076 square feet, continued Mr. Haidar.
Uniquely situated on the edge of Hermann Park, residents will delight in panoramic park views and simple walking access to the 445 acres filled with lush gardens, live oaks, landscaped golfing greens, fountains, and cultural institutions. We are proud to provide our residents with an extraordinary scenic lifestyle in the heart of Houston that seamlessly integrates with Hermann Park, rich in beauty, charm and history while also offering unparalleled convenience to the community, said Mr. Agarwal.

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