JVM Realty Corp., a multifamily real estate investment and property management firm, has acquired Mayfair Reserve, a 236-unit luxury apartment community in Wauwatosa, Wisconsin.
The property was purchased from Atlantic Residential, a private commercial real estate firm. The financial terms of the deal were not disclosed. The property will be the third Southeast Wisconsin property in the current JVM portfolio, which now encompasses 22 communities throughout the Midwest.
Mayfair Reserve was completed in 2017 and is located at the I-41 and I-94 interchange, just 15 minutes from Milwaukee Mitchell International Airport. The units offer one- and two-bedroom layouts and amenities include a fully equipped 24-hour fitness center with yoga and spin studio, a clubhouse with entertainment dining and a coffee bar, a resort-style pool with sun lounge and cabanas, an electric vehicle charging station, and a dog park and pet washing area.
“Mayfair Reserve is a fantastic addition to our growing portfolio and perfectly aligns with our strategy of acquiring high-quality investment opportunities in thriving locations,” said Jay Madary, president and CEO of JVM Realty Corp. “With no competitive projects under construction, recent road completions, and JVM’s award-winning management team delivering a superior resident experience, we believe this property offers a significant opportunity for rental growth. We are very excited to further expand our presence in the Milwaukee area.”
;
