Broadshore Capital Partners, in a joint venture with an investment partner, has completed the acquisition of 225 North Calvert, a 347-unit, 17-story apartment building in the Inner Harbor District of downtown Baltimore, Md.
The seller completed a top-to-bottom renovation of the 1967 constructed office building in 2018, converting the property to a class A apartment tower. In addition to 347 apartment residences, the building also provides 9,535 square feet of ground-floor retail space, currently leased to a DaVita dialysis center, and 430 parking spaces.
“Downtown Baltimore has evolved in the decades since 225 Calvert was originally constructed, and in its new incarnation it offers a well-located, modern residential opportunity in a central business district that also benefits from being a popular tourist destination,” observed Brad Howe, co-CEO, Broadshore. “Broadshore’s experienced multifamily team will oversee management of 225 North Calvert to ensure it max