Source: Hamilton Zanze
BALTIMORE, MD - San Francisco-based real estate firm Hamilton Zanze (HZ) has acquired the 304-unit Jefferson Square at Washington Hill apartment community in Baltimore, Maryland, changing the community's name to The Tala at Washington Hill. Cushman & Wakefield and Falconvest Partners facilitated the transaction.
The purchase marks the firm's 12th acquisition in the state of Maryland. With this latest acquisition, the firm now owns and operates five properties in the Baltimore market, including Arbor Ridge, Point at Winterset, Preserve at Cradlerock, Timbers at Long Reach, and now Jefferson Square at Washington Hill.
"We are excited to expand our presence in Maryland with the purchase of The Tala at Washington Hill," said David Nelson, Hamilton Zanze's chief investment officer. "The 2014 asset features favorable amenities, convenient location near employers like The Johns Hopkins Hospital, and close proximity to an abundance of retail and entertainment in Downtown Baltimore."
The community is located at 101 North Wolfe Street in the desirable Downtown Baltimore submarket of the Baltimore metropolitan area. It is just under two miles from the heart of Downtown Baltimore and a seven-minute walk from Johns Hopkins Hospital, which employees over 30,000 people. The property includes 304 units in one five-story residential building. The units average from 850 square feet with 35 different floor plans. Community amenities include a gaming room, fitness center, resort-style swimming pool and sundeck, and a two-story lobby with a grand staircase.
HZ's capital improvements plan includes amenity, building and site improvements, an interior unit renovation campaign, and environmental upgrades. Additionally, management of the property has also been transitioned to HZ affiliate Mission Rock Residential, a Denver-based company.