HYATTSVILLE, MD - EJF Capital, a global alternative asset management firm with approximately $5.6 billion of assets under management, announced the completion of construction at The Bellevue, a 361-unit, multifamily development located in Hyattsville, Maryland. This is the fifth project delivered within EJF’s OpZone Fund II and reflects the Firm’s continued expansion into high-growth, metropolitan Qualified Opportunity Zone (“QOZ”) markets.
Developed in partnership with The NRP Group, The Bellevue is situated in one of Prince George’s County’s most dynamic residential corridors, a neighborhood propelled by ongoing economic development and expanded access to employment centers throughout the Washington, D.C. metro area. Long-term demand for high-quality housing in Hyattsville results from proximity to the University of Maryland, a vibrant arts district, and dynamic retail and dining options.
The newly delivered community features studio, one-, two-, and three-bedroom apartments along with a comprehensive amenity suite, including a fitness center, clubroom, co-working lounge, landscaped courtyards, and structured parking.
“We are pleased to bring The Bellevue to completion as we invest in high-quality housing within supply-constrained and growing communities,” said Asheel Shah, Senior Managing Director and Head of Real Estate Development at EJF. “Hyattsville’s strong demographic and employment trends make it a highly attractive market, and The Bellevue reflects our commitment to delivering thoughtfully designed multifamily communities with best-in-class partners.”
The Bellevue joins EJF Capital’s growing portfolio of multifamily and industrial developments within QOZs nationwide. Since 2018, EJF has invested in 24 multi-family and commercial developments across the country, including five completed developments in the OpZone Fund II, aligned with the firm’s strategy of develop institutional-quality properties in markets positioned for sustained growth.