StoneBridge Investments of Washington, DC has acquired Veridian at Sandy Springs, a 272-unit apartment community in the greater Atlanta submarket of Sandy Springs, for $32 million. Amenities include a pool, sundeck, tennis court, fitness center, clubhouse, cyber lounge, pavilion and picnic areas, and a “bark park.”
The Donaldson Group (TDG) of Rockville, MD and its equity partner, New York-based DRA Advisors LLC (DRA), have acquired Brinkley Manor Apartments, a 126-unit garden-style apartment community located in Temple Hills, Maryland for approximately $15.05 million. The partnership plans to invest additional capital to renovate the property.
Pennsylvania-based 5 Cap Realty LLC (5 Cap) and its affiliate RREIC Advisors has teamed with a private equity fund vehicle managed by JMP Asset Management LLC, an affiliate of publicly traded JMP Group LLC, to launch a multi-year national investment venture that could top $1 billion in assets under management.
Washington Property Company (WPC) will break ground shortly on its latest luxury apartment community, Solaire 8250 Georgia Avenue, just two blocks from the Silver Spring (MD) Metro and multi-modal transit station. This is WPC’s fourth Solaire-branded apartment community and its second in Silver Spring’s rapidly evolving Ripley District.