Donaldson Impact Investments And New York Life Acquire Country Place Apartments In Burtonsville For $62.65M

The property asset involved in the transaction is a multifamily property located at 3900 Blackburn Lane in Burtonsville, MD. The transaction occurred on December 23, 2024, with a sale price of $62,650,000. The property spans 17 acres and consists of 300 units, resulting in a price per unit of $208,833. Approximately 55% of the units are capped at affordable rents, while the remainder is set at market rates.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $62,650,000
• Address: 3900 Blackburn Lane
• Market: Burtonsville, MD
• Acres: 17
• Units: 300
• Price Per Unit: $208,833
• Buyer: Donaldson Impact Investments, Affordable Homes & Communities, Declaration Partners & New York Life

A joint venture that includes Donaldson Impact Investments and New York Life was formed to acquire the property known as Country Place Apartments, which consists of over 300 units. This collaboration marks a significant acquisition by the involved parties, focusing on both market rate and affordable housing solutions.