New owners promise to renovate Fairmont Gardens

Fairmont Gardens

The new owners of Fairmont Gardens in Annandale plan to renovate the garden apartment community, according to a Dec. 10 report on GlobeSt.com. 

Joint-venture partners – the Donaldson Group, Declaration Partners, and a fund managed by DRA Advisors – purchased the 388-unit apartment complex on Wadsworth Court for $84 million.

The partners are planning capital improvements, such as replacing the original central heating and cooling plant with efficient, individual heat pumps in each unit. They are also planning significant upgrades to the building facades, common areas, and landscaping for the 21-acre property.

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“Fairmont Gardens is a well-located, well-constructed apartment community in a strong rental market,” said John Majeski, senior vice president of the Donaldson Group, a real estate management and investment company based in Rockville, Md. 

The seller, Capital Investment Advisors, had acquired Fairmont Gardens from JBG Cos. in 2017 for $65 million, according to GlobeSt. 

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Fairmont Gardens has mostly bad reviews on ApartmentRatings.com. Residents cite problems with maintenance, vermin, and unresponsive management, among other problems. Rents are about $1,500 for a one-bedroom unit, $1,880 for a two bedrooms, and $2,350 for a three-bedroom unit.