Berkadia Arranges Recapitalization of MF Within Chicago MSA
Berkadia announced the recapitalization of Enclave at 127th, a 340-unit value-add apartment community in Plainfield, Illinois.
Senior Managing Directors Gordon Reynolds and Brian Myers of Berkadia Strategic Capital and Pete Evans of Berkadia Chicago; Senior Director Richard Evans of Berkadia Milwaukee; Associate Director Brad Mori of Berkadia Chicago; and Vice President Conner Adkins of Berkadia Strategic Capital led the transaction.
The sponsor, Chicago-based JVM Realty Corporation, is a vertically integrated, privately owned and operated real estate investment firm. The joint venture equity partner is New York-based DRA Advisors, a real estate investment advisor specializing in value-add investing. JVM will retain ownership through an affiliated investment fund, and the recapitalization positions the partnership to execute its value-add business plan.
Conveniently located north of Interstate 55 within the dominant I-55 Industrial Corridor, Enclave is also less than 20 minutes south of Downtown Naperville and the heart of the I-88 Illinois Technology & Research Corridor.
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Brokers
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout