Montgomery White Oak Apartments Have New Owner

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, MD. The partnership plans to invest additional capital to renovate the property.

Situated on approximately 28 acres, Montgomery White Oak is located adjacent to the White Oak Federal Research Campus, home to the US Food and Drug Administration (FDA) headquarters and the US Army Research Laboratory. It is less than one mile from the planned Viva White Oak, a $3 billion 12 million square foot mixed-use 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 to I-495, the Intercounty Connector, and I-95.

The focal point of the partnership’s business plan is a renovation program to replace the original outdated central heating and cooling plant with individual high-efficiency heat pumps installed in each apartment, generating significant savings in utility consumption and cost.

“Montgomery White Oak is a well-located, well-constructed apartment community in a strong rental market,” said Carlton Einsel, Chief Executive Officer, The Donaldson Group. “We are extremely pleased to have executed this transaction with our partners at DRA Advisors and Declaration Capital, and we will continue to seek similar opportunities.”