Vista at White Oak Apartments in Silver Spring, MD
SILVER SPRING, MD – The Donaldson Group and Declaration Partners have acquired Vista at White Oak Apartments in Silver Spring, MD in a $53 million transaction.
The 272-unit apartment community was purchased in an off-market transaction. Within the property, 20% of the units are considered affordable under the US Department of Housing and Urban Development's Housing Assistant Payment program.
The garden-style property is situated on 11 acres of land in Montgomery County, located adjacent to the White Oak Federal Research Campus. With direct access to US Route 29, the community is less than one mile away from the $3 billion planned mixed-use life science village, Viva White Oak.
The joint-venture partnership is planning to implement a renovation program, which will entail unit upgrades, common area enhancements, exterior improvements and mechanical modernizations.
CBRE Capital Market's Maxi T. Leachman and David Webb the firms in obtaining acquisition financing from Freddie Mac.
Declaration Partners is an investment firm headquartered in New York City and backed by the office of David M. Rubenstein of The Carlyle Group.
The Donaldson Group, headquartered in Rockville, MD, is a full-service real estate management and investment company. The firm, along with its affiliate, TDG Capital Partners LLC, have advised on acquisitions totaling more than $1.75 billion in multifamily real estate within the past 15 years.
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Ingrid Tunberg
Ingrid Tunberg sits on the editorial team as a coordinator and reporter for Real Estate Forum and GlobeSt.com. She is responsible for writing stories, assisting with industry awards and marketing nomination events. Previously, Ingrid worked as a copywriter across various industries throughout New York City and Chicago.
