Rolling Brook Village in Woodbridge, VA Trades for $107.5M
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 in Woodbridge, VA, for $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, within walking distance of the Occoquan River shoreline.
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.
Rolling Brook Village offers 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, Mason Neck State Park, and Occoquan with its shops, galleries, and restaurants.