JVM Realty Acquires 297-Unit Multifamily Property In Itasca For $99M

The multifamily property located at 1133 N Arlington Heights Rd in Itasca has been sold for $99,000,000. The sale was completed on January 26, 2022. The property consists of 297 units, resulting in a price per unit of $333,333. The transaction involved the buyer, JVM Realty represented by Jay Madary, and the seller, M&R Development, Hamilton Partners, and POB Capital. Berkadia served as the broker in this deal.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $99,000,000
• Units: 297
• Price Per Unit: $333,333
• Buyer: JVM Realty - Jay Madary
• Seller: M&R Development, Hamilton Partners & POB Capital
• Broker: Berkadia

Jay Madary, representing JVM Realty, played a significant role as the buyer in this transaction. M&R Development, Hamilton Partners, and POB Capital were the sellers. Berkadia acted as the broker facilitating the deal. The sale of this multifamily property achieved a significant price of $99,000,000, contributing to the overall success of the transaction.