VIRGINIA MULTIFAMILY SELLS FOR $107.5M

WOODBRIDGE, VA. — A joint venture between The Donaldson Group (TDG) and Angelo, Gordon & Co. (AG) has acquired Rolling Brook Village, a 732-unit multifamily in Woodbridge, for approximately $107.5 million. The partnership plans to invest $5 million in upgrades and renovations to the buildings, common areas and apartment units, including new kitchens in all units. Walker & Dunlop assisted the partnership in obtaining acquisition financing through Freddie Mac. Miles Spencer of Eastdil Secured represented the unlisted seller. Rolling Brook Village is situated on approximately 55 acres and 24 miles south of Washington, D.C. It includes 53 garden-style apartment buildings that were constructed in two phases in 1988 and 1990. The one- and two-bedroom units range from 644 to 1,038 square feet in size.