Letter From Jay
Looking Forward to an Exciting 2019
Happy New Year! We certainly hope that 2019 is off to a great start for you and yours.
As we look back, it’s clear that 2018 was another fantastic year at JVM. We acquired several outstanding apartment communities, completed eye-popping common-area renovations at the Circa and Avant properties (more on that later in the newsletter) and undertook a number of very meaningful philanthropic efforts, such as last summer’s blood drive in metro Kansas City, to cite one example.
Read the rest of Jay Madary’s opening letter.
As we look ahead to 2019, I could not be more excited. Among our plans for the upcoming 12 months:
- Fully subscribe and deploy JVM Realty Apartment Fund 7 and JVM Multi-Family Premier Fund 3. We plan to close both funds by the end of the year.
- Acquire approximately $200 million of new properties in our target markets while maintaining our same focused and disciplined investment criteria.
- Continue to foster a culture of excellence that attracts and retains the most talented associates to manage our properties on behalf of our investors. This has been a top priority for our company from day one, and it paid off again recently when JVM was awarded the “Best Places to Work in Multifamily” designation for the third year in a row.
- Encourage even more participation in our Committed to Community program, through which we match our employees’ contributions to charitable organizations and provide them with time off to perform volunteer work in their communities.
Last year, JVM and its employees contributed more than $85,000 to philanthropic organizations. Among those that benefitted were Marklund, the American Red Cross and the Alzheimer’s Association. Furthermore, JVM team members performed a total of 379 hours worth of volunteer work last year through the program.
As for what 2019 may have in store for the Midwest apartment market, I’m very optimistic on that front. For a variety of reasons – not the least of which are the historically low unemployment rates we are seeing in the region – the secondary and tertiary markets in which we operate are poised to once again enjoy steady rent growth and solid operating fundamentals.
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 2019 for all of us!
President & CEO