JVM Realty Corp., a multifamily real estate investment firm and sponsor of private placement offerings, has purchased The Bevy, a 175-unit apartment community in the Milwaukee suburb of Brown Deer.
Located at 8600 N. Deerwood Drive in a historic section of Brown Deer, unit layouts range from studios to 3-bedroom, 2.5-bathroom townhomes with a den. Apartments are in elevator-serviced buildings with underground parking and the townhomes have access two-car garages. In-unit amenities include stainless steel appliances, granite or quartz countertops, walk-in closets, full-size washer and dryers, a smart home thermostat and private patios or balconies.
Built in 2021, the nearly five-acre community has a 24-hour fitness center, clubhouse, outdoor terrace with grilling stations, 24-hour package room, a dog park and a pet spa. A new community gathering space will soon be completed across the street that has a beer garden, farmer’s market, and access to the Oak Leaf Trail system, a 135-mile biking and hiking trail.
“We are honored to add another acclaimed luxury multifamily community to our growing portfolio,” said Jay Madary, president and chief executive officer. “The Brown Deer area is undergoing major transformations that will bring increased market interest, and we expect The Bevy’s top-notch amenities and location in a charming, pedestrian-friendly village will position it as a perennial favorite for renters.”
The property is 15 minutes north of downtown Milwaukee within close proximity to major employers including 14 Fortune 1000 manufacturers, banks and service organizations. The area is currently undergoing a $19 million road improvement project that will “enhance traffic circulation in the immediate area,” the company said.
With this latest acquisition, JVM now owns and manages two apartment communities in Wisconsin, and 21 communities throughout the Midwest.
Based in Oak Brook, Illinois, JVM operates a $1.4 billion multifamily portfolio in the Greater Midwest, including Illinois, Indiana, Kansas, Missouri and Wisconsin.