Jefferson Apartment Group (JAG), a leading multifamily developer and operator specializing in premier apartment communities on the East Coast, and equity partner CP Capital, a U.S. real estate manager specializing in multifamily investments, have closed on the purchase of 14 acres in Fort Washington, Penn., a suburb of Philadelphia.
The community, located at 1125 Virginia Drive, will comprise 310 luxury units across three five-story, mid-rise buildings. A pedestrian promenade will connect the buildings, which will be situated among eight acres of open space. The promenade also will connect directly to Fort Washington walking and biking trails and provide access to adjacent retail.
The project will showcase 12,000 square feet of interior amenity space, which will include a grand clubroom with a bar, lounge and double-sided fireplace; game area with billiards, shuffleboard, and pinball; poker room; fitness center; resident movie theater; private dining room; and co-worki
