JAG Secures Loan; Breaks Ground on Multifamily

WASHINGTON, DC-Jefferson Apartment Group, with investment partner USAA, will break ground on an apartment building in Baltimore next week having secured a construction loan from Wells Fargo for $44 million. The residential and retail development, Jefferson Square at Washington Hill, will be located one block from the new main entrance of Johns Hopkins Medical and Research Campus. The five-story building will consist of 304 residential units and 21,000 square feet of retail.

Jefferson Square at Washington Hill, however, is just one initiative that this local company has underway. Since its launch three years ago, JAG has worked to build up a diversified portfolio of properties in major east coast markets. Building a footprint outside of DC was, in fact, one of its initial goals. “Their mission was to be diversified in different markets on the East Coast,” a JAG spokeswomen tells GlobeSt.com, pointing to the company’s activities in Florida as well.