Jefferson Apartment Group Closes on Debut Deal in Charlotte, North Carolina

DC-based developer announces new regional office to expand business in the Carolinas

Jefferson Apartment Group (JAG), a leading multifamily developer and operator specializing in premier apartment communities on the East Coast, is making its North Carolina debut in Charlotte with a just-closed land purchase and its expansion into the area with a new regional office.

JAG has purchased a 5-acre parcel at 200 Wadsworth Place in the Optimist Park neighborhood of Charlotte along with its equity partner Cadre. Optimist Park is within a mile of uptown—Charlotte’s central business district—and is situated among some of the area’s most sought-after neighborhoods, including NoDa and Belmont. The site has been graded and full construction will start this summer on this 350-unit Class A mid-rise with financing through United Bank.

Signaling a commitment to expand its1,000-unit pipeline in the Carolinas, Washington, DC-based JAG has established a Charlotte office, where it has several development projects in the planning stages. In addition to their own pipeline, JAG Management will begin offering property management services to third party regional owners.

“As our pipeline of projects in the Carolinas continues to grow, we knew it was the right time to plant roots in Charlotte,” said Jim Butz, President and CEO of Jefferson Apartment Group. “The Queen City is experiencing explosive growth, and we feel confident that it is not slowing down anytime soon. We’re looking forward to investing more in the Carolinas region.”

As for JAG’s debut project in Charlotte, Senior Vice President and Development PartnerGreg Van Wie said, “200 Wadsworth Place has been a long-time in the making, and we’re excited to see it begin to take shape. The industrial history around North Charlotte is rich, and we’ve worked hard to represent the heritage of the Optimist Park neighborhood in our architecture and design.”

The exterior of the 6-story building will feature red brick and ironwork, and units will be a mix of studio, one- and two-bedrooms ranging from 585 square feet to 1,027 square feet—some with private balconies and views of uptown. All units will feature top-of-the-line finishes, including plank flooring, quartz countertops, stainless steel appliances, and tile backsplashes. Additionally, 355 parking spaces will be available to residents, consisting of both garage and surface parking.

In addition to its proximity to the uptown business district, 200 Wadsworth Place is convenient to interstates 277 and 74 and is an easy walk (a little over six blocks) to the new Parkwood Station on theLynx Blue Line.

“Transit-oriented communities are very much in line with market demand across Charlotte,” said Ryan Munoz, Cadre’s Director of Private Equity Real Estate. “The close proximity to uptownand the NoDaarts district makes this project even more appealing. We are pleased to be partnering with Jefferson Apartment Group on this premier property in Optimist Park.”

For more information about 200 Wadsworth Place and JAG, please visit jeffersonapartmentgroup.com.

About Jefferson Apartment Group

Jefferson Apartment Group is a full-service real estate firm specializing in multifamily and mixed-use real estate investments through acquisition, development, construction, and property management services. JAG focuses on urban, transit-oriented assets located in high barrier-to-entry markets on the East Coast. The firm is committed to creating and managing communities that are high quality, innovative and environmentally responsible. More information is available at jeffersonapartmentgroup.com.