www.marejournal.com M id A tlantic Real Estate Journal — November 9 - 22, 2018 — 3A Adding 625 units to its current 11,000-unit multifamily management portfolio The Donaldson Group takes over management of 625 apartments in Richmond & Norfolk, VA
I CHMOND AND NORFOLK, VA — T h e Do n a l d s o n Group (TDG) of Rockville, MD has continued to expand southward beyond its base in the Washington, DC metro area, adding 625 units to its current 11,000-unit multi- family management portfolio. The company has taken over management of two recently traded apartment communi- ties, one in Richmond and the other in Norfolk. In the Richmond suburb of Chester, TDG has begun managing Rivermont Cross- ing, a 457-unit rental com- munity with 312 apartments and 145 townhomes. In one of the market’s largest mul- tifamily transactions to date, the property was acquired by longtime TDG client The Ste- ven A. Goldberg Company of Bethesda, MD. In Norfolk, TDG is now managing The Lafayette, a 168-unit high rise apartment building that was acquired recently by Graycliff Capital Partners, LLC. TDG will be R
Rivermont Crossing
The Lafayette
assisting in the property reno- vation that will include hall- way and lobby improvements, relocation of the leasing cen- ter and amenities, elevator upgrades, and interior unit renovations. Combined with a 300-unit Charlottesville, VA apart- ment community that TDG has managed for six years on behalf of The Goldstar Group , TDG now manages 925 apartments in central and southern Virginia. The compa- ny plans to grow its footprint
in the Richmond and Hamp- ton Roads markets through both third-party management contracts and acquisitions as principals. “We believe we can bring our strongmanagement opera- tions to these growing markets and significantly improve com- munities for our clients as well as for our own principal deals,” said TDG senior vice president John Majeski . “Richmond has strong population growth, great colleges and universi- ties, and a large and diverse
employment base.” Hampton Roads, Majeski continued, is the largest mar- ket between Washington, DC and Atlanta, with a significant healthcare and high-tech de- fense presence. The metropoli- tan area is home to the Port of Virginia, the third largest- volume port on the East Coast. Due to its collaborative, integrity-based approach to its clients, TDG’s manage- ment portfolio has experienced 9.31% average annual NOI (net operating income) growth Harbor’s newest condomini- um community, it is Barkan’s 4th National Harbor client. Similarly, the addition of Fairmont 1005 & Fairmont 1009 condominiums brings the entire Fairmont commu- nity (four 74-unit Associa- tions as well as the Fairmont Community Association) to It is also highly recommended to implement suitable change management from the very beginning of the design. Edu- cating employees on new ways of working can create oppor- tunities for a more productive working environment. Setting standard policies for the dos and don’ts for the various spaces can help mitigate issues with privacy, noise, and inter- ruptions that causes productiv- ity to decline. Activity-based workspaces do not fit every company.
over the past five years. Since inception, TDG has advised clients on acquisitions of over $1.75 billion in real estate investment transactions com- prising 18,000 units. The company also has taken over management of over 28,000 units, advised clients in dis- posing of over $1.25 billion in real property investments totaling 16,000 units, recapi- talized 5,000 units valued at $350 million, and managed over $350 million in construc- tion/renovation work. Barkan Management.” According to Feltenberger, Barkan’s MetropolitanWash- ington DC management port- folio is comprised of 39 client communities representing approximately 7200 units, including condominiums, cooperatives, and homeowner associations. Employers need to take into consideration the type of work that their employees do and their own management style should be considered to deter- mine if activity-based work- spaces will be successful. If you think activity-based workspaces would benefit your company but not sure where to begin, HF Planners can assist you in transforming your cur- rent office space. Contact us today to learn more! Julia Horner, Associate AIA, LEED AP, HP Plan- ners.
BarkanManagement expands its portfolio inMid-Atlantic Region
WASHINGTON DC — Barkan Management , one of the industry-leaders in
residential p r o p e r t y management w i t h 1 6 5 p r ope r t i e s under man- agement in nine states, t o d a y a n - nounced it has added
continued from page 2A Activity-based Workspaces: . . .
Michael Feltenberger
four properties to its portfo- lio, expanding the company’s reach in the mid-Atlantic region. New clients in the Washington DCmetropolitan area for which Barkan will provide a full suite of prop- erty management services in- clude: The Haven at National Harbor, a 248-unit luxury condominium complex located at National Harbor, MD; The Vistas at Laurel Lakes, a 192- unit condominium located in Laurel, MD; Chantilly Park,
The Haven at National Harbor (MD)
a 208-unit condominium com- munity located in Chantilly, VA; and Fairmont 1005 & Fairmont 100. Both are 74- unit condominiums located in Hyattsville, MD. “Since opening our Met- ropolitan Washington office in February 2011, we have
quickly established ourselves as the area’s premiere man- agement company,” said Mi- chael Feltenberger , senior VP of Barkan Management Company. “The addition of The Haven is example of our growing presence in the area. In addition to being National
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