Real Estate
Home›Real Estate›Industry›Berkadia to recapitalize Enclave at 127th, a 340-unit…
Berkadia to recapitalize Enclave at 127th, a 340-unit apartment community
The recapitalization of Enclave at 127th, a value-add property in Plainfield, Illinois, is positioned to support a value-add business plan for the sponsor and its joint venture partner.
Berkadia announced the recapitalization of Enclave at 127th, a 340-unit value-add apartment community in Plainfield, Illinois.
The transaction was led by Berkadia Strategic Capital executives Gordon Reynolds and Brian Myers, along with Vice President Conner Adkins, working with additional Berkadia leaders including Senior Managing Director Pete Evans, Senior Director Richard Evans, and Associate Director Brad Mori.
The sponsor is Chicago-based JVM Realty Corporation, a vertically integrated real estate investment firm, and the joint venture equity partner is New York-based DRA Advisors, an advisor focused on value-add investing.
JVM will retain ownership through an affiliated investment fund, and Berkadia said the recapitalization positions the partnership to execute its value-add business plan, with the property located north of Interstate 55 in the I-55 Industrial Corridor.