PAOLI, PA — TSB Realty, LLC successfully completed the sale of The Academy on Charles, a 106-unit, 328-bed student housing property located immediately adjacent to Johns Hopkins University’s Homewood campus in Baltimore, Maryland. GMH Communities sold the property to an undisclosed buyer.
“With a location that overlooks historic Homewood Field and Stromberg Stadium, this asset offers students a luxury living experience directly next to campus,” said Randall L. Calvert, who brokered the transaction for TSB Realty. “We were grateful to work with our friends at GMH to close a deal that made sense for all parties involved.”
The Academy on Charles is a luxury, boutique asset originally built in the early 1930s, then completely renovated and converted to student housing in 2014. Each of the units is fully furnished with in-unit washer and dryer, electronic door locks, hardwood-style flooring, granite countertops, and more. Community amenities include a furnished rooftop terrace, state-of-the-art fitness center, games center, garage and surface parking, and private and group study lounges.
The Academy on Charles is 100% occupied for the 2023-24 Academic Year.
Headquartered in Newtown Square, Pennsylvania, GMH Communities is a dynamic, privately held real estate company specializing in the acquisition, development, and management of exceptional living communities throughout the United States. Since 1985, GMH has participated in over 300 transactions representing more than $8.5 billion of gross asset value across all major property types.
TSB Realty is a full-service, national investment sales firm specializing in the valuation and disposition of student housing communities and conventional multifamily communities. Since inception in 2014, the Paoli, Pennsylvania-based firm has closed nearly $9.2 billion in student housing sales for a diverse client base, encompassing more than 70,000 beds from tier 1 markets to tertiary markets.