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Donaldson Group Buys Silver Spring Apartments For $90M

The Warwick Apartments at 1131 University Blvd. in Silver Spring.

The Donaldson Group is continuing to grow its portfolio of suburban D.C. apartment complexes with an acquisition in Silver Spring

The Rockville-based firm, in partnership with a fund managed by DRA Advisors, acquired the Warwick Apartments for $90.5M from BDMG, the Washington Business Journal reports

The 398-unit apartment complex at 1131 University Blvd. sits about 4 miles north of the Silver Spring Metro station and about 2 miles east of the Wheaton Metro station. 

Transwestern's Robin Williams and Dean Sigmon represented BDMG in the sale, which comes two years after the Baltimore-based firm acquired the building for $74M. 

The Donaldson Group plans to launch a significant renovation of the property, including upgrades to its common areas, units and HVAC system. The firm will also manage the property. 

The acquisition is the third D.C.-area purchase for The Donaldson Group in less than three years. In December, it acquired an Annandale apartment property for $84M as part of a joint venture with Declaration Partners. That same JV acquired a Silver Spring apartment property in January 2019 for $87M. Donaldson owns or manages more than two dozen apartment communities in Maryland and Virginia, according to its website.