Rubenstein Single Family Office Acquires Apartments For $53.0M

Rubenstein Single Family Office Acquires Apartments For $53.0M

Declaration Partners, the family investment firm of private equity billionnaire David Rubenstein, is involved in a major real estate deal. Together with the Donaldson Group a 272-unit apartment community in Silver Spring (Maryland) has been aquired for $53.0M.

272-unit Apartment Communitx in Silver Spring

The acquired apartment community is called “Vista at White Oak Apartments”. According to Senior VP John Majeski of the Donaldson Group “Vista at White Oak is a well-located, well-built apartment community in a very strong location”. Adjacent to the 11 acre estate is a federal research campus of the FDA. Vista at White Oak also has direct access to US Route 29. The apartments  are equipped with washers and dryers, walk-in closets and free off-street parking. There are one and two bedroom apartments available. The Donaldson Group and Declaration Partners want to renovate and upgrade the apartments and to modernize mechanical systems.

Partnership between real estate investment company and Rubinstein single family office

The Donaldson Group is an investment and real estate management company from Maryland who has advised in transactions worth $1.75BN. Declaration Partners, on the other hand, is an investment firm associated with David M. Rubenstein, a founder of the famous private equity firm “The Carlyle Group”. Today, Carlyle is one of the leading global private equity firms with assets under management  in the amount of $201BN. Through Declaration Partners, Rubenstein invests in private equity and real estate deals. Declaration is also a really active investor in late-stage startup financing rounds. For example, the firm invested in Amperity’s $50M Series C  in July 2019 (alongside Goldman Sachs).

Sources
Nate Watson, 27.09.2019
Venturebeat, 27.09.2019
MHP Mag, 27.09.2019

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