BALTIMORE, MD - Lowe Enterprises Investors (LEI), in joint venture with a foreign investment client, has acquired Jefferson Square at Washington Hill, a 304-unit urban infill apartment development with 20,000 square feet of street retail in East Baltimore. Located at 101 N. Wolfe St., the property is across the street from the vast Johns Hopkins University Hospital and medical campus and in the heart of the rapidly growing neighborhood.
“This premier property has an unparalleled location at the front door to the Johns Hopkins campus with its more than 20,000 employees. In addition, it is adjacent to The Science & Technology Park, a 31-acre corporate research campus,” said Brad Howe, co-CEO of LEI. “It provides not only the most convenient location for employees and students but also top-tier, modern residences, offering the most sought after on-site amenities.”
Jefferson Square at Washington Hill, completed in 2015, features mid-rise buildings that create street activity with both ground floor retail and some street-facing residences. The units are configured as studios, one- and two-bedrooms and served by ample on-site parking with a five-story structure for residents, a one-story garage for retail and numerous surface spots.
The units are designed with contemporary finishes such as flat panel cabinetry, granite counters with tile backsplash, stainless steel appliances and kitchen islands and full-size washer and dryer. Residences also offer patios, balconies or front stoops creating an outdoor connection and capturing natural light. Abundant common areas and community spaces include an expansive clubroom with a variety of games, theater room, conference room, business center, fitness center and yoga space. Outdoor areas are equally diverse with a lounge-like seating area and fountain, serenity courtyard with fireplace, resort-style pool and outdoor grilling areas.
Retail space at Jefferson Square at Washington Hill provides residents and the neighborhood with community-serving retail and dining including CVS drugstore, BB&T bank, Urban BBQ and Ledo Pizza.
“There are many factors that make this a compelling investment. It’s new construction in an exceptional location walking distance to the area’s major employer and situated in a neighborhood that is continuing to grow and thrive,” noted Howe.
Jefferson Apartment Group will continue as manager of the apartments. LEI was represented in the transaction by John Gaghan and JLL represented the seller.