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JVM Realty buys 280-unit Oswego multifamily community from Continental
The deal covers a 2019-built property, rebranded as Trillium at Oswego, with average household income above $138K and 54% of residents age 34 or younger, according to the buyer.
JVM Realty acquired a 280-unit apartment community in suburban Oswego from Continental Properties for an undisclosed price, according to Bisnow. The property, Springs at Oswego, is located at 801 Fifth St and was originally developed in 2019, comprising 14 two-story residential buildings.
JVM said the community has a young, higher-income resident base, with average household income exceeding $138K and 54% of households age 34 or younger, as stated in a company release. After the purchase, JVM rebranded the asset to Trillium at Oswego.
The acquisition marked JVM’s fourth deal with Continental Properties, Bisnow reported. JVM also named Bradford Allen to hire Nick Placek as executive vice president, development, with Placek overseeing multifamily, office, hospitality, and mixed-use development and redevelopment work from acquisition through completion.
Bisnow also noted other Chicago-area property transactions in the same deal sheet, including Concord Capital’s purchase of the Elaine Place portfolio for $61.5M, and SpringView Investments paying about $12.6M for the 138-unit Hickory Oaks Apartment Complex in Lansing, Illinois.