JVM Realty Corp. (JVM), a leading vertically integrated multifamily real estate investment and property management firm, today announced that it has named Jon Eastman as vice president of capital markets. Eastman will work with wealth managers and investment advisors in the eastern half of the U.S. to raise equity for funds sponsored by the company.

Eastman, who most recently served as vice president of sales for Atlas Energy Group, has more than 35 years of experience in developing and maintaining long-term relationships with the financial industry's most successful investment advisors and their clients. He has managed sales teams that raise capital for Wells Real Estate Funds and Clarion Partners LLC. 

"Jon brings an outstanding combination of talent and experience to JVM," said Jay Madary, president and CEO of JVM. "This is an important period in the history of our company, as we strive to meet our long-term portfolio growth goals. Raising equity is obviously a critical part of the success of that plan, and Jon's track record of earning investors' trust and treating them with the care and respect they deserve is truly remarkable. We could not be more excited about him being a part of our team."

Eastman, who will be based in JVM's Oak Brook office, has his Series 7 license. He is also a Chartered Financial Consultant and a Chartered Life Underwriter. He received his B.S. in Economics from the University of Illinois, Urbana-Champaign.

JVM Realty Corp. (JVM), a leading vertically integrated multifamily real estate investment and property management firm, today announced it was named, for the second year in a row, one of the Best Places to Work in Multifamily at the Multifamily Leadership Summit. The finalists were honored at the annual summit in Scottsdale, Ariz., in November. 

The evaluation process for the awards included an examination of companies' employee policies, procedures and benefits, as well as employee responses gathered through an independently conducted survey.

"This is an immensely gratifying award, and we are thrilled to be honored by the Multifamily Leadership Summit for the second straight year," said Jay Madary, president and CEO of JVM. "Building the right culture has always been a top priority for our company. We want to be known as a great place to work. We want to be a company where associates feel appreciated and supported, where they know they can grow and develop, and where they know they have a voice. This award is powerful validation that we are succeeding in those areas."

As part of JVM's world-class culture, the company's executives are committed to clear and consistent communication with associates. Regular company-wide conference calls and blogs posted to the company's Intranet are just two of the ways JVM leaders keep team members in the loop. They also regularly visit the company's communities to meet with associates and discuss operations at the property. These outings provide executives a chance to get to know associates and build rapport. Furthermore, JVM has an open-door policy in which employees know they can easily reach leadership with feedback, concerns and suggestions.

Other notable components of JVM's workplace culture include: a dedication to employee development through education and development programs, e-learning courses and tuition reimbursement; a company wellness initiative; a corporate gift-matching program, through which the company matches its associates' charitable donations up to a certain amount; paid time off to volunteer with local charities; and team volunteer outings.

"At JVM, we work very hard, and we take our jobs very seriously," Madary said. "But we also strive to create a true family atmosphere in which our associates feel supported and cared for. Our motto is, 'Work hard. Have fun. Take care of each other with a warrior spirit, positive mental attitude and a servant's heart.' Consequently, we believe we have created a truly great place to work."

JVM Realty Corp. (JVM), a leading vertically integrated multifamily real estate investment and property management firm, today announced that renovations are underway at The Aventine at Oakhurst North, a 464-unit community in Aurora, Ill., acquired by the company in November 2016.

The project will include significant improvements to building exteriors, apartment homes and common amenities. Renovations to the clubhouse and other common areas have been completed, while apartment home upgrades will be phased in as residents move out.

"With these renovations, The Aventine at Oakhurst North will be perfectly positioned to thrive, as the upgrades will give the community a competitive advantage in a submarket that has not experienced much new construction recently," said Jay Madary, president and CEO of JVM. "We believe strongly in the long-term health of the suburban Chicago apartment market, and the improvements we're implementing will create exactly the kind of highly amenitized, best-in-class community that can deliver optimized performance and returns in this market."

The Aventine at Oakhurst North now features an entirely reimagined clubhouse with a resident lounge, business center, and a fitness center that is twice as big as its predecessor and has brand-new equipment, including Wellbeats fitness on demand. The clubhouse also contains a package locker room that residents can access 24/7.

The improvements will also include a new exterior paint scheme and signage, updated landscaping, a new fire pit and grilling area, a relocated and embellished dog park, new pool furniture, an additional pond fountain, and new LED lighting in common areas and on building exteriors.

In-unit renovations will include a new paint scheme as well as the installation of oiled soapstone countertops, built-in microwaves, silver mist and stainless steel appliances, new vanity tops, luxury vinyl tile flooring and new carpet. 

"These strategic enhancements will add tremendous value to Aventine and should make it the most sought-after community in its submarket," Madary said. "Its amenities, design and service level will be unmatched in the area. Combine that with the fundamental strength of the surrounding apartment market, and we believe Aventine has a tremendously bright future."

JVM Realty Corp. (JVM), a leading vertically integrated multifamily real estate investment and property management firm, today announced that renovations are underway at four of its apartment communities in suburban Cleveland. 

The improvements, which include significant upgrades to both common areas and apartment homes, are taking place at the 366-unit Royal Oaks Apartments (North Royalton, Ohio), the 300-unit Dover Farms (North Royalton), the 261-unit Butternut Ridge (North Olmsted, Ohio) and the 258-unit Hidden Lake Apartments (Stow, Ohio). Reimagined clubhouses and other common-area upgrades have been completed, and improvements to the apartment homes are being phased in as residents move out.

JVM is implementing the renovations to make the already desirable communities stand out in a homogenous market that has seen relatively little new multifamily development in recent years. Only 700 apartment homes came online in the metro area in 2016, according to commercial real estate brokerage firm Marcus & Millichap. That number is expected to rise in 2017, but the new units will be primarily located in central Cleveland.

"The metro area's improving economy and growing job market are creating a real demand for state-of-the-art, highly amenitized communities in Cleveland's suburbs. Couple that demand with the lack of new development in the suburbs, and these strategic renovations will give our portfolio a competitive advantage over the surrounding aging housing stock," said Jay Madary, president and CEO of JVM. "Suburban Cleveland is one of JVM's established markets, and having a portfolio with the look and feel of new construction will better position us to optimize performance and returns there over the long-term."

Royal Oaks now features an expanded fitness center with all-new equipment, a 24/7 package room and a redesigned clubhouse with a computer area, high bar for social gatherings and pool table. The renovated apartments homes will include all-new cabinets, countertops and appliances; washed almond wood vinyl flooring and stain-resistant carpeting; fresh paint; new plumbing fixtures; and enhanced lighting.

The renovations at Dover Farms include new hallways, a resurfaced pool deck and a dramatic indoor garage door that leads from an expanded clubhouse into an expansive fitness club with all-new equipment. In the apartment homes, improvements will include new kitchens, hardware, lighting, hardwood-style flooring in all living areas, and new bathroom cabinets and fixtures.

Similar common-area and in-unit renovations are underway at Butternut Ridge and Hidden Lake. At Butternut Ridge, JVM is also installing new windows throughout the community. At Hidden Lake, the all-inclusive improvements include a state-of-the-art bike storage and tune-up room, lakeside patio and fire pit.

"Today's renter places a high priority on a robust amenity package," Madary said. "With these improvements, our suburban Cleveland communities are strongly positioned to appeal to renters now and well into the future, particularly millennials and members of Generation Z."

JVM Realty Corp. (JVM), a leading vertically integrated multifamily real estate investment and property management firm, today announced that renovations are underway at three of its apartment communities in metro Kansas City, Mo. 

The improvements, which include significant upgrades to both common areas and apartment homes, are taking place at the 240-unit Eastland Trails (Independence, Mo.), the 288-unit Clear Creek (Overland Park, Kan.), and the 206-unit New Longview (Lee's Summit, Mo.). 

JVM is implementing the renovations in light of the abundant new multifamily development taking place in greater Kansas City. Approximately 2,900 apartment homes came online last year, and another 4,900 are slated for completion in 2017, according to the commercial real estate brokerage firm Marcus & Millichap.

"We are immensely proud of the quality of our Kansas City portfolio, and excited to add more value for the residents of our apartment communities, the surrounding neighborhoods and our portfolio through this strategic renovation," said Jay Madary, president and CEO of JVM. "With this carefully developed renovation strategy, the communities will have the look and feel of new construction, better positioning us to optimize return for our investors. 

Revamped clubhouses and many common-area improvements were completed at Eastland Trails and Clear Creek in March and April, respectively, and are slated to be finished at New Longview in May. Improvements to the apartment homes will be phased in over the next couple of years at each community.

Eastland Trails now features a redesigned business center with a package locker system offering 24/7 access, a remodeled clubhouse kitchen, an epoxy stone pool deck, a repainted fitness center and all-new pool furniture. Upgrades to the apartment homes will include vinyl plank flooring, refinished cabinet fronts and drawers, brushed nickel lighting packages and brushed nickel ceiling fans. 

At Clear Creek, JVM installed a new social area with large-screen TVs, bar-top tables, shuffleboard and other activities. Improvements to the apartment homes will include new stainless steel kitchen appliances, tile backsplashes, bathroom hardware, modern lighting packages and vinyl plank flooring.

New Longview will soon feature a new bar area for residents, a revamped business center with a 24-hour electronic package locker system and an expanded fitness center with new equipment. Quartz countertops, stainless steel appliances and new carpet will be among the in-home upgrades.

"The greater Kansas City area has long been one of JVM's core markets," Madary said. "We are bullish about the health of its multifamily market, both now and over the long-term. New development has increased, job growth remains healthy, and we expect operating fundamentals to remain strong.”

JVM Realty Corp. (JVM), a leading vertically integrated multifamily real estate investment and property management firm, today announced it saved 8 million gallons of water in 2016 through improved landscape irrigation practices at three of its communities. That's enough water to fill 12 Olympic-size swimming pools.

The irrigation initiative is part of JVM's ongoing effort to reduce its water consumption and energy usage. The company has in recent years installed LED lighting and energy-efficient windows across portions of its portfolio. The LED retrofit at three communities alone has resulted in annual energy savings large enough to power a typical American home for more than 42 years.

"We firmly believe it is our responsibility to do the best we can with the resources we have to operate in a sustainable manner," said Jay Madary, president and CEO of JVM. "Therefore, we have invested significant time and resources into initiatives that benefit the environment, our residents and JVM’s investors. We are pleased with our efforts so far, but we also remain committed to exploring new opportunities to decrease our environmental footprint."

The landscape irrigation savings stem from a three-community pilot project JVM conducted last year. At the properties, the company installed water-flow sensors that are connected to the Internet and to water-management software that detects leaks in real time, measures soil moisture and monitors weather to activate the landscape irrigation system only when needed. Banyan Water, which provided the sensors and software, presented JVM with its H2OverAchiever Award for the pilot project.

The results of the project exceeded JVM’s expectations, and the company is considering the expansion of the initiative in 2017.

The LED lighting installations began in 2014, when JVM initiated energy conservation assessments in conjunction with any new acquisition or renovation project. Since that time, the company has identified three communities where energy use could be substantially reduced by replacing incandescent or fluorescent lighting with LED bulbs in common areas and/or parking lots. The communities are Butternut Ridge Apartments in North Olmstead, Ohio; Prairie Lakes Apartments in Noblesville, Ind.; and The Sovereign Apartments in Overland Park, Kan.

In all, more than 2,300 bulbs have been replaced, resulting in annual energy savings of over 450,000 kilowatt-hours. That’s enough to supply electricity for the typical American home for 42.5 years.

Additionally, in 2016 JVM installed energy-efficient windows at two communities: the aforementioned Butternut Ridge and Hidden Lake Apartments in Stow, Ohio. Overall, more than 3,000 old windows were replaced, leading to an estimated 10 to 15 percent decrease in the average resident utility bill.

"There are few endeavors more important than protecting our environment now and for the future, and we are proud to be a part of the multifamily industry's efforts in sustainability," Madary said.