Baltimore Class A multi-housing community trades
JLL Capital Markets closed the sale of 225 North Calvert St. in the Inner Harbor District
WASHINGTON, D.C. – Sept. 14, 2021 – JLL Capital Markets announced today that it has closed the sale of 225 North Calvert St., a 347-unit, Class A multi-housing community with ground-floor retail in the Inner Harbor District of Baltimore, Maryland.
JLL marketed the property on behalf of the seller, CP Capital US, formerly HQ Capital Real Estate. Broadshore Capital Partners acquired the asset on behalf of an investment client.
225 North Calvert St. comprises one- and two-bedroom units averaging 745 square feet. Units feature chef-inspired kitchens, front-load washer and dryers, balconies and open floor plans with floor-to-ceiling windows. The community offers a rooftop terrace with pool and lounge, game room, multimedia theater, health club, and pet exercise area and grooming stations. All 9,535 square feet of retail space is occupied by DaVita, which will serve as a dialysis center.
The property offers residents seamless access to major highways (Interstates 83, 395 and 95 via S Calvert Street), public transportation and the Baltimore Metro Area’s CBD. 225 North Calvert is adjacent to Mercy Hospital, which employs over 2,100 people. CBD and Inner Harbor Serves as Baltimore’s business hub and provides residents and workers alike with some of the city’s finest dining and retail options. CBD and Inner Harbor is also home to the National Aquarium and both Oriole Park at Camden Yards and the Ravens’ M&T Bank Stadium.
The JLL Capital Markets Investment Sales Advisory team representing the seller was led by Senior Managing Directors Walter Coker and Brian Crivella and Directors Robert Jenkins and Bill Gribbin.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment and sales advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
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About JLL
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.6 billion in 2020, operations in over 80 countries and a global workforce of more than 92,000 as of June 30, 2021. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About CP Capital US
CP Capital, formerly known as HQ Capital Real Estate, is a highly disciplined U.S. real estate investment manager focused on the multifamily sector. Founded in 1989, the firm has invested in approximately $15 billion of U.S. real estate through sponsored funds and separate accounts on behalf of global institutions, family offices and ultra-high net worth individuals. These investments total more than 70,000 residential units and 21 million square feet of commercial space. In-house capabilities of CP Capital also include asset and construction management, capital markets, legal, reporting, and tax structuring expertise. Through its consistent participation in the market over the past three decades, the firm has developed deep relationships across the real estate industry. CP Capital’s primary investment strategy focuses on opportunistic and value-add rental apartment investments with best-in-class joint venture partners in growth markets throughout the U.S., which has resulted in a strong track record of more than 220 realized investments as of June 30, 2021. Visit cpcapitalus.com for more information.
About Broadshore Capital Partners
Broadshore Capital Partners, LLC ("Broadshore") was founded in 1989 (under a predecessor name) and became an SEC registered investment adviser in 1991. In 2019 the company rebranded following a buyout led by its long-time partner, The Guardian Life Insurance Company of America. Broadshore is a leading national real estate investment management and advisory services company with approximately $1.8 billion in assets under management as of March 31, 2021. The firm provides real estate advisory services to a select list of international institutions, public pension funds, insurance companies and high net worth individuals. Broadshore is based in Los Angeles and retains additional personnel in New York, Denver, Seattle and Phoenix. For more information visit www.broadshore.com.