TEMPLE HILLS, MD–The Donaldson Group of Rockville, MD and its equity partner, New York-based DRA Advisors have acquired Brinkley Manor Apartments, a 126-unit garden-style apartment community for $15.05 million.
Robert LaChapelle and Matthew Forgione of CBRE secured the acquisition financing through Fannie Mae's Green Loan Program. CBRE's Michael Muldowney and Brian Margerum represented the seller, who was not disclosed. The partnership plans to invest additional capital to renovate the property.
Donaldson Group joins a number of other companies using Fannie Mae's various products in this space. Last year, for example, The Peterson Cos. secured a $54 million Fannie Mae loan from its Green MBS program, to refinance an apartment complex at National Harbor.
A Green Finance Trailblazer
The GSE has been a trailblazer in many respects with its green financing programs and earlier this year it accumulated the critical mass to re-securitize the paper in its REMIC program: it priced a $1 billion CMBS with two green tranches, making it the first green agency CMBS deal.
In fact for the past several years Fannie Mae has been quietly and then not-so-quietly marketing its green MBS securities.
Read Fannie Mae Updates Make It Easier To Take Advantage of Green Financing
The agency began rolling out various initiatives and improvements to its existing programs to encourage borrowers to make water and energy improvements to the GSE's asset base. Finally last year, after a steady climb in lending some $3.5 billion in green MBS had been issued — enough for a CMBS.
TEMPLE HILLS, MD–The Donaldson Group of Rockville, MD and its equity partner, New York-based DRA Advisors have acquired Brinkley Manor Apartments, a 126-unit garden-style apartment community for $15.05 million.
Robert LaChapelle and Matthew Forgione of CBRE secured the acquisition financing through
Donaldson Group joins a number of other companies using
A Green Finance Trailblazer
The GSE has been a trailblazer in many respects with its green financing programs and earlier this year it accumulated the critical mass to re-securitize the paper in its REMIC program: it priced a $1 billion CMBS with two green tranches, making it the first green agency CMBS deal.
In fact for the past several years
Read
The agency began rolling out various initiatives and improvements to its existing programs to encourage borrowers to make water and energy improvements to the GSE's asset base. Finally last year, after a steady climb in lending some $3.5 billion in green MBS had been issued — enough for a CMBS.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
