The Donaldson Group, Angelo, Gordon & Co. Acquire 732-Unit Apartment Community in Woodbridge, VA

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Rolling Brook Village is a 732-unit garden apartment community situated on 55 acres in Woodbridge, VA.

Rolling Brook Village Woodbridge, VA

Rolling Brook Village Woodbridge, VA

We view Rolling Brook Village as an excellent opportunity to acquire a well-located, well-constructed property in a strong rental market

The Donaldson Group (TDG) of Rockville, MD and its equity partner, New York-based Angelo, Gordon & Co. (AG), have acquired Rolling Brook Village, a 732-unit garden apartment community located in Woodbridge, VA. The acquisition price was approximately $107.5 million. The partnership plans to invest $5 million in upgrades and renovations to the buildings, common areas, and apartment units

Walker & Dunlop assisted the partnership in obtaining acquisition financing through Freddie Mac. The seller was represented by Miles Spencer of Eastdil Secured.

Situated on approximately 55 acres, Rolling Brook Village is located about 24 miles south of Washington, DC in southeastern Prince William County. Just minutes from I-95 and within walking distance of the Occoquan River shoreline, Rolling Brook Village offers convenient access to Marine Corps Base Quantico, Fort Belvoir, and other employment centers, as well as VRE commuter train service to and from Washington, DC. Residents also can take advantage of nearby Potomac Mills with over 225 shops and restaurants, Mason Neck State Park, and historic Occoquan with its shops, galleries, and restaurants.

Rolling Brook Village comprises 53 garden apartment buildings, constructed in two phases in 1988 and 1990. Its one- and two-bedroom apartment homes range from 644 to 1,038 square feet and feature balconies or patios, fireplaces, washer/dryers, and vaulted ceilings. Amenities include two community centers with pools, a business center, a residents’ lounge, fitness center, and a playground.    

TDG’s renovation will upgrade the building facades, common areas, parking lots, landscaping, and amenities. Individual apartments will be renovated with all-new kitchens (cabinetry, countertops, flooring, lighting, and appliances), carpeting, six-panel doors, and fixtures, along with upgraded bathrooms.

“We view Rolling Brook Village as an excellent opportunity to acquire a well-located, well-constructed property in a strong rental market,” said Carlton Einsel, President, The Donaldson Group. “It fits well into our growth plans and we are very pleased to have executed this core-plus transaction with our partners at Angelo, Gordon & Co.”

“This is a solid asset in a growing submarket that is positioned to benefit from BRAC (Base Realignment and Closure) and the resulting job growth at Fort Belvoir and Quantico,” added John Majeski, Senior Vice President, The Donaldson Group. “There is an opportunity to improve the property and advance operating performance on both the revenue and expense sides.”

The Donaldson Group is a full-service real estate management and investment firm offering comprehensive services and expertise in property and asset management; accounting and financial management; investment, underwriting, and acquisition analysis; and construction management and renovation services. Since 2003, TDG has advised clients on the acquisition of over 14,000 multifamily units valued at well over $1.5 billion, and has taken over management of over 21,000 units. During this same time period, TDG has advised clients in disposing of over $1 billion in real property investments, comprising approximately 9,000 units, and has managed over $150 million worth of renovation work. For more information, visit http://www.thedonaldsongroup.com.

Angelo, Gordon & Co., L.P. (AG) is an SEC registered investment advisor that makes investments directly and on behalf of various investment funds for which it acts as the investment manager. The firm currently manages assets of approximately $25 billion. Over the past 19 years, AG has participated in over 350 real estate investments on behalf of the firm and various managed investment funds, with a gross purchase price in excess of $13 billion.

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John Majeski

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