O wners , D evelopers & M anagers
Real Estate Journal — Section B
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M id A tlantic
CBRE’s Baltimore-based investment sales group reps. seller, Joncon Venture, LLP The Donaldson Grp., Declaration Capital & DRA Advisors’ Fund acquire 592-unit apartment community S
s/f mixed-use transit-oriented village focused on life sciences research and employment. The property has direct access to US 29 (Columbia Pike) and is a short distance from I-495, the Intercounty Connector, and I-95. The focal point of the part- nership’s business plan is a renovation program to replace the original outdated central heating and cooling plant with individual high-efficiency heat pumps installed in each apart- ment, generating significant savings in utility consumption and cost. “MontgomeryWhite Oak is a well-located, well-constructed apartment community in a strong rental market,” said Carlton Einsel, Chief Execu- tive Officer, The Donaldson Group. “We are extremely pleased to have executed this transaction with our partners at DRA Advisors and Decla- ration Capital, and we will continue to seek similar op- portunities.”
HI-LIGHTS F ebruary 22 - M arch 14 , 2019 SPOTLIGHT ENVIRONMENTAL/ GREEN BUILDINGS ILVERSPRING,MD — The Donaldson Group (TDG) of Rockville, MD, Declaration Capital of New York City, and a fund managed by DRA Advisors have acquired Montgomery White Oak Apartments, a 592- unit garden-style apartment community located in Silver Spring. The acquisition price was approximately $86.75 million. The partnership plans to invest additional capital to renovate the property. Maxi Thiels Leachman and David Webb of CBRE The Michaels Organization co-host Groundbreaking 5-14B
White Oak Apartments
Capital Markets assisted the partnership in obtaining acquisition financing from Freddie Mac under the Green Advantage program. The seller, Joncon Venture, LLP , was represented by Bill Roohan, Mike Muldowney,
Brian Margerum and Mar- tha Hastings of CBRE’s Bal- timore-based investment sales group. Situated on approximately 28 acres, Montgomery White Oak is located in Montgomery County adjacent to the White
Oak Federal Research Cam- pus, home to the US Food and Drug Administration (FDA) headquarters and the US Army Research Labora- tory. It is less than one mile from the planned Viva White Oak, a $3 billion 12 million
Middleburg begins construction of Mosby Lakeside
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Greysteel sells Highland Ridge Apartments
Mosby Lakeside
access to a variety of retail, restaurant and entertainment venues. Mosby Lakeside is located within Lakeside Vil- lage, a mixed-use development positioned to take advantage of the rapid growth of the local economy with service retail, restaurants and professional office space. “Mosby Lakeside will be the premier rental community in the Pooler submarket with
unmatched property ameni- ties and apartment homes,” said Middleburg managing partner, Chris Finlay . “Mosby Lakeside complements our high-quality portfolio of livable, well-located rental communi- ties throughout the Southeast.” Middleburg has partnered with RSE to provide preferred equity for the project as part of the overall capitalization of the development. Synovus
Bank also provided construc- tion financing. “Teaming with RSE and Synovus provided a very efficient and competitive capital structure for this proj- ect,” said Kory Geans , partner and chief investment officer for Middleburg. “We have execut- ed multiple transactions with both RSE and Synovus and continue to be impressed with their respective performance and execution.”
WASHINGTON, DC — Virginia-based developer and investor Middleburg has begun construction of Mosby Lakeside, a 316-unit multi- family apartment community in Pooler, GA, a high growth suburb of Savannah. The com- munity will feature water views, top-notch amenities and a great location adjacent to the new St. Joseph’s/Candler hospital campus, with easy
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