Fund 6 and Premier Fund II are currently co-invested in four apartment communities in Indianapolis, Kansas City and suburban Chicago, and are set to co-invest in a fifth community later this month. Premier Fund II has invested in an additional community in Aurora, Ill. In the end, the total acquisition cost of the six communities will be $332.4 million. Investors in the two funds include hundreds of high net worth individuals, trusts and insurance companies.
Jon Eastman Named Vice President of Capital Markets
Eastman, who previously 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 will work with wealth managers and investment advisors in the eastern half of the U.S. to raise equity for funds sponsored by JVM.
Midwest Multifamily Market Poised for a Bright Future
In a recent guest column for National Real Estate Investor, JVM’s Jay Madary outlines the reasons the Midwest apartment market will continue to perform strongly and appeal to investors.
“The Midwest apartment market never seems to grab the headlines from its coastal counterparts, but year after year, it hums quietly along, displaying strong operating fundamentals and attracting investors with cap rates that pave the way for nice returns,” Madary writes. “Next year and the years beyond should be no different.”
The Crucial Role of Maintenance in Resident Retention
Maintenance technicians do more than repair faulty plumbing – their demeanors and attitudes play a major role in driving resident satisfaction and retention. That’s one of the points made by Kevin Villont, JVM’s vice president of construction and maintenance, in a Multi-Housing News article detailing how multifamily operators can prepare maintenance staffs to build meaningful relationships with residents
“Daily interactions between residents and maintenance technicians, from a nice chat while repairing a broken dishwasher to saying ‘hi’ as friends in passing, are what truly drive customer loyalty and increase resident retention,” Villont says.
The Importance of Online Reputation Management
A recent Multifamily Executive article on the critical role of online reputation management features Kim Morgan, JVM’s marketing manager. In the piece, Morgan emphasizes that feedback from online reviews can really help a community refine its amenity package.
“Try to extract value from those negative reviews and then show that you’re improving upon the situation,” she says. “We’ve used both negative and positive reviews to implement and improve the features that are in demand from today’s renters.”