JVM Realty Buys Multifamily Property Near Indianapolis
JVM Realty Corp., a multifamily real estate investment firm and sponsor of private placement offerings, has purchased The Mark at Fishers District.
JVM Realty Corp., a multifamily real estate investment firm and sponsor of private placement offerings, has purchased The Mark at Fishers District, a 260-unit apartment community located in the Indianapolis suburb of Fishers, Indiana. Real estate firm Thompson Thrift sold the property to JVM for an undisclosed amount.
The Mark at Fishers District is located within Fishers District, an 18-acre master-planned, mixed-use development with 98,200 square feet of retail and restaurant space. A dual-branded Hyatt House and Hyatt Place hotel is also on-site but was not part of the acquisition.
“The Mark and Fishers District provides an unmatched investment opportunity in a vibrant, high-income suburb of Indianapolis,” said Jay Madary, president and chief executive officer of JVM Realty Corp. “With the ideal blend of Class A+ residential, high-end retail, and Indy’s best dining and entertainment, The Mark fits perfectly in our portfolio of luxury Midwest apartment communities.”
Located at 11547 Yard Street, The Mark is comprised of studio, one-, two- and three-bedroom units and on-site amenities that include a fitness center, bocce ball court, swimming pool and spa.
JVM Realty said that it will use its in-house management and marketing teams “to optimize performance and revenue for the residential component and will engage a national expert in retail services to assist with management of the retail component.”
This is the fourth community JVM Realty currently owns in the Indianapolis market.
Based in Oak Brook, Illinois, Realty Corporation operates a $1.2 billion multifamily portfolio in the Greater Midwest, including Illinois, Indiana, Kansas, Missouri and Wisconsin.
