Happy New Year! I hope 2020 is off to a great start for you.
At JVM, we couldn’t be more excited about what lies ahead. We enter 2020 and the new decade with a lot of momentum because 2019 was another outstanding year for us.
Among our many accomplishments last year:
Looking ahead to the new year, I am very optimistic about the health of the apartment market in the Midwest, and we fully expect our properties to perform well and to experience solid rent growth. Additionally, we will:
I hope you enjoy this edition of our quarterly newsletter. Thank you for your continued trust in JVM, and we look forward to speaking with you again soon.
Here’s to a great 2020 for all of us!
INVESTOR SUPPORT SHORTS
Be on the Lookout for Tax-Related Documents
Believe it or not, the tax-filing season is here again. As you have come to expect, we will mail 1099s to our investors by the end of January. K-1s will be mailed to investors by the first of March and uploaded to Intralinks, the investor portal, soon thereafter.
Audit Report Reminder
Audit reports will be uploaded to Intralinks by March 31.
IN THE NEWS
JVM Acquires Maple & Main and Closes Two Equity Funds
The 115-unit luxury apartment community in Downers Grove, Ill., is a transit-oriented development. Featuring a walk score of 88 – meaning “very walkable,” which is high for a suburban location – the community is located 20 miles west of Chicago.
Meanwhile, the JVM Realty Apartment Fund 7 and JVM Multi-Family Premier Fund III funds raised more than $115 million combined. The funds are currently co-invested in five of our communities.
JVM Named One of the Best Places to Work in Multifamily
For the fourth year in a row, we were named one of the Best Places to Work in Multifamily by the Multifamily Leadership Innovation Summit. The winners were honored at the annual event in Scottsdale, Ariz., in November.
We came in at No. 6 on this year’s list.
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.
Thinking Twice about Value Add
Equity’s interest in multifamily isn’t likely to dip anytime soon, but the nature of that interest may change. That’s because some investors and owners may begin to grow more cautious of value-add acquisitions.
That’s one of the points made by Jay Madary in a recent guest column for Multi-Housing News.
Building a Strong Workplace Culture
To accomplish their goals, multifamily companies have to create world-class workplace cultures that emphasize taking great care of associates and giving back to the communities in which they operate. While creating such an environment has practical benefits – such as making it easier to attract and retain quality team members – more importantly, it’s simply the right thing to do.
In a recent blog for Multifamily Insiders, Jay Madary outlines the fundamental elements of a strong corporate culture.
JVM Extends a Big Helping Hand to Charities in 2019
At JVM, we are big believers in giving back to the communities in which we operate.
Our associates are encouraged to use their Community Days to donate up to eight hours of paid time off each year to help those less fortunate.
In addition, we match all associate charitable donations up to $500 per year. Also, our team members and residents regularly participate in food and clothing drives and fundraisers in their local communities.
We are proud to announce that, in 2019, 28 different organizations benefitted from JVM’s Committed to Community initiative, either through money donations through the corporate match program or time donations through the Community Day program. Organizations who benefitted included the American Red Cross, Marklund, the Alzheimer’s Association and Aspire.