JVM Realty Corp., a sponsor of non-traded real estate investment programs, has purchased Ceylon Apartments, a multifamily community in the St. Louis suburb of Clayton, Missouri. The mixed-use residential community includes 121 apartments and 13,421 square feet of ground floor retail.
Ceylon was built in 2017 and will be managed by JVM Management Inc. It is the first acquisition for JVM Realty in the St. Louis area. The company’s total portfolio consists of 17 communities in four states totaling 4,640 units.
“Ceylon Apartments is an impressive addition to the JVM Realty portfolio, as we continue to expand our footprint of luxury, multifamily apartments in suburban communities throughout the Midwest,” said Jay Madary, president and chief executive officer of JVM Realty Corp. “Ceylon is an outstanding transit-oriented property, located in suburban St. Louis that offers residents luxurious living in a fully-amenitized lifestyle residence.”
Based in Oak Brook, Illinois, JVM is a real estate investment and property management firm that oversees a $1 billion multifamily portfolio in the Greater Midwest, including Illinois, Indiana, Kansas, and Missouri.