Donaldson Group, Declaration Partners Acquire Multifamily Community in Suburban Maryland for $53M
SILVER SPRING, MD. — The Donaldson Group and Declaration Partners have acquired Vista at White Oaks Apartments, a 272-unit garden-style multifamily community in Silver Spring, for $53 million. The property offers one- and two-bedroom floor plans. Communal amenities include a picnic area, swimming pool, playground and a tennis court. Vista at White Oak sits on 11 acres at 11430 Lockwood Drive, 11 miles north of downtown Washington, D.C. The buyers are planning a renovation program that includes unit upgrades, common area enhancements, exterior improvements and mechanical system modernization. Maxi Leachman of CBRE originated an acquisition loan through Freddie Mac on behalf of the partnership. The seller was not disclosed.