Image courtesy of Google Maps.

A partnership between Jefferson Apartment Group and LaSalle Investment Management has bought a large apartment high rise in the Longwood Medical Area.

The duo plan updates to the 289-unit CityView at Longwood building including a reimagined common area space on the penthouse level, which will boast over 8,000 square feet of lounge space, a community kitchen, fitness center and an indoor/outdoor roof deck. Additional new amenities will include a pet spa and resident storage space. Unit renovations will feature extensive kitchen upgrades to include granite countertops, updated appliances, new cabinets, sophisticated light fixtures, new flooring and tile backsplash. Bathrooms will also be modernized and will feature updated vanities, countertops, lighting, mirrors and plumbing fixtures.

LaSalle Investment Management is the joint venture equity partner.  This is the first acquisition on behalf of the partnership between JAG and NYL. New York Life Real Estate Investors acted as investment advisor to NYL on the venture.

“This is an exciting win for us as the Longwood Medical submarket in Boston is thriving and we are excited to partner with Lasalle,” Jim Butz, CEO of Jefferson Apartment Group, said in a statement. “We have plans to do both unit renovations as well as substantial common area renovations, and anticipate this property will become one of the most sought after in the Boston area, particularly within the medical and academic community with neighboring institutions including Harvard Medical School, Brigham and Women’s Hospital, and Beth Israel Medical Center, to name a few.”

The purchase price was not disclosed.