Warwick Apartments on University Sold to Rockville Company

The Warwick Apartments at 1131 University Blvd. W., near the intersection with Sligo Creek Parkway, has been sold to Rockville-based Donaldson management company, according to the Washington Business Journal.

The price of the 398-unit building was $90.5 million and it was acquired in a joint venture with DRA Advisors, based on New York City.

The Warwick offers one-, two- and three-bedroom units at rents ranging for $1,366 to $1,800 a month, with a pool, fitness center, community room and business center, according to the report.

Donaldson, which will manage the property, told WBJ it plans significant renovations to the building, include finishing a project to convert the central HVAC system to individual units.

In addition, the company plans to invest in improvements to the common areas, elevators, parking garage and more, as well as renovate the apartments, adding new kitchens.

Google Streetview Oct. 2019

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