by Jay Madary, President and CEO of JVM Realty
Greetings, and welcome to the Summer 2019 edition of the JVM e-newsletter.
This year has been a busy and productive one for our company. Over the past few months, we have sold five properties – four in the Cleveland area, one in the Kansas City market – for a combined $175 million.
Additionally, we are under contract to purchase two Chicagoland communities for a total of $122 million. These transactions are slated to close in the fall.
We continue to review and underwrite other potential deals so it’s very possible we will have even more acquisitions to announce before we close our current funds to investment later this year. At the same time, JVM has a few refinances underway to take advantage of improved property operations and the recent lowering of interest rates.
None of this activity and none of our continued growth would be possible without our outstanding team of associates and investors. It’s through all of you that we’re able to grow our portfolio while also managing our properties in a way that drives high levels of resident satisfaction and strong investor returns.
I can’t thank you enough.
Before you dive into the rest of the newsletter, I would like to mention that we have added a new section. It’s called Investor Support Shorts, and it provides our investors with timely updates and reminders. Our investors are so, so important to us here at JVM, and we want to take advantage of every opportunity we have to provide them with relevant information.
I hope you enjoy the rest of the summer months, and I thank you for your continued trust in JVM!
President & CEO