Berkadia announced the recapitalization of Enclave at 127th, a 340-unit value-add apartment community in Plainfield, Illinois.
The transaction was led by Senior Managing Directors Gordon Reynolds and Brian Myers and Vice President Conner Adkins of Berkadia Strategic Capital, in collaboration with Senior Managing Director Pete Evans, Senior Director Richard Evans, and Associate Director Brad Mori of Berkadia Chicago and Berkadia Milwaukee.
The sponsor, Chicago-based JVM Realty Corporation, is a vertically integrated, privately owned and operated real estate investment firm. The joint venture equity partner is New York-based DRA Advisors, a real estate investment advisor specializing in value-add investing. JVM will retain ownership through an affiliated investment fund, and the recapitalization positions the partnership to execute its value-add business plan.
Conveniently located north of Interstate 55 within the dominant I-55 Industrial Corridor, Enclave is also less than 20 minutes south of Downtown Naperville and the heart of the I-88 Illinois Technology & Research Corridor.
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