OAK BROOK, IL – JVM Realty, a leading vertically integrated multifamily real estate investment and property management firm, announced it has bought Uptown La Grange, a 254-unit luxury apartment community in La Grange, Ill., a vibrant suburb located 17 miles west of downtown Chicago. JVM Management Inc. will manage the property, which was built in 2017.

Uptown La Grange marks the second suburban Chicago apartment community JVM has bought in the last two weeks. In late September, the company completed its buy of Randall Highlands in North Aurora, Ill. The Midwest-focused company now owns and operates five multifamily properties in the area. 

“We are always excited about the opportunity to make strategic additions to our portfolio, and Uptown La Grange is an apartment community that has a tremendous amount going for it in terms of its location, its walkability and its onsite features,” said Jay Madary, president and CEO of JVM. “Being a transportation-oriented development (TOD), it provides residents with extremely simple access to one of the most exciting and culturally stimulating cities in the world while still giving them a chance to live in luxury away from the hustle and bustle of the huge city. All of the pieces are there for Uptown La Grange to be the premier apartment community in its submarket. I’m confident that our experience in this market and our marketing and operational expertise will make that happen.”

Uptown La Grange has a walk score of 90, which is considered a “walker’s paradise” and is a particularly high score for a suburban community. The community sits next to a 17-acre public park and is just a block away from the LaGrange Road Metra train station, where residents can take a 20-minute express train to downtown Chicago. It is close to several highways – including I-290, I-55 and I-294 – and is within a 25-minute drive of both major Chicago airports. 

Uptown La Grange also is surrounded by a robust restaurant and retail scene. Additionally, residents are just steps away from a Trader Joe’s grocery tale and a Walgreen’s pharmacy, and they can easily walk to a nearby Jewel-Osco grocery store. 

Community amenities at Uptown La Grange include a rooftop terrace offering views of downtown Chicago; a heated pool and a sundeck with grills and a bocce ball court; a fitness center with Wellbeats virtual fitness classes, a yoga studio and Peloton bikes; and a club room with a demonstration kitchen and a coffee bar. Other common-area features include package delivery storage lockers, valet trash, a conference center/library and a gaming lounge.

Uptown La Grange 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 10-foot ceilings.

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ATLANTA, GA – Greystar Real Estate Partners, a global leader in the investment, development, and management of high-quality rental housing properties, announced the acquisition of The Columns at Akers Mill, a 400-unit, garden-style multifamily community situated in the well loved Atlanta suburb of Vinings, on behalf of its affiliates. The buy presents an opportunity to buy a well-located asset with value-add potential in a top-performing southeastern market where Greystar has built a sizeable portfolio.

“We know the Atlanta market extremely well and were immediately drawn to this acquisition opportunity given the Property’s location, as well as the area’s strong employment fundamentals and favorable supply/demand dynamics for high-quality rental housing,” said Kevin Kaberna, Executive Director and leader of Greystar’s U.S. Investment platform. “We have developed a strategic plot to maximize asset value and enhance resident experience through an infusion of capital and the implementation of property management best practices. Our vertically integrated team is well positioned to do on this opportunity.”

Originally completed in 1968 and significantly upgraded in 1994, The Columns at Akers Mill is located at 2383 Akers Mill Road SE, in close proximity to major employment hubs including Cumberland/Galleria, Buckhead, Midtown and Perimeter Center. Large corporations such as Home Depot, Thyssenkrupp, HD Supply, Delta Community Credit Union and Genuine Parts have headquarters in the Cumberland/Galleria area, which is located just two miles from the Property. The recent delivery of more than 17 million square feet of office space is expected to attract other growing businesses and top talent to the region. Moreover, the numerous dining, shopping and entertainment venues that surround the Property including The Battery, a mixed-use lifestyle center surrounding The Atlanta Braves stadium, makes its location highly desirable.

Greystar plans to implement a capital improvement plot and will take over management of The Columns at Akers Mill to attempt to unlock embedded value. The capital improvement plot includes comprehensive updates to residences, including replacing dated appliances and cabinets and upgrading finishes including lighting, plumbing and hardware fixtures. Greystar will also overhaul the Property’s common areas and amenity spaces – which include a fitness center, a pool and numerous courtyards.

As the nation’s largest apartment operator with approximately 500,000 units under management, Greystar currently owns more than 2,800 units in Atlanta and manages nearly 17,600 more in the market. Greystar will continue to leverage its local market expertise and deep industry relationships to identify attractive investments and management opportunities throughout Atlanta.

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CHARLOTTE, NC – LMC, a leader in apartment development and management, announced its acquisition of Novel Stonewall Station, a luxury transit-oriented apartment community located in Uptown, one of Charlotte’s most sought-after rental submarkets. The transaction marks LMC’s first acquisition of an existing multifamily community. 

Novel Stonewall Station, which features 459 luxury apartment homes and a full-sized Whole Foods Market on the ground floor, offers walkability to Charlotte’s core central business district employers and Uptown’s entertainment attractions. It also is adjacent to the Stonewall Station light-rail stop, which allows residents to easily travel to South End and NoDa, two of Charlotte’s other thriving intown neighborhoods. With the acquisition, LMC now owns three Class A, transit-oriented communities in the city. The other two communities are Bradham at New Bern, located in South End, and The Ellis in Uptown.

“The Charlotte apartment market is a healthy one, and our first-ever acquisition provides us with a way to scale our presence in the market and add a right trophy asset in the Queen City,” said Todd Farrell, president of LMC. “The strategic go to buy these types of communities will serve as a complement to our ongoing development efforts and will allow us to continue to build our portfolios in desirable submarkets.”

Situated at 400 East Stonewall Street, Novel Stonewall Station sits at a nexus of employment, recreation, entertainment and transportation. The area immediately surrounding the property is undergoing a monumental transformation, with several mixed-use developments and office towers under construction or plotted. More than 2.9 million square feet of new Class A office space will be added within four blocks of the community by 2021. Major nearby employers include Duke Energy, Wells Fargo, Bank of America, Regions and WeWork. In addition, Interstates 77 and 277 are nearby to provide residents with simple connectivity to the rest of the metro Charlotte area.

“We are excited about the addition of Novel Stonewall Station to our portfolio,” said Will Chapman, managing director of LMC Investments. “This is truly a landmark asset in an unbeatable location within one of the nation’s fastest-growing metro areas. And with its array of outstanding interior finishes and top-notch, in-demand amenities, it is a highly desirable home for today’s discerning apartment residents.”

Novel Stonewall Station offers studio, one-, two- and three-bedroom apartment homes. The homes range in size from 469 to 2,563 square feet and represent a mix of mid-rise and high-rise residences. 

Community amenities include an invisible-edge saltwater pool, rooftop beer garden overlooking the Charlotte skyline, skyline fitness center with state-of-the-art Technogym equipment, Peloton bikes, group fitness room, co-working lounge and conference room, 24-hour package lockers and a rooftop dog park.

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