Donaldson Impact, New York Life IM, HIP form joint venture to buy 326-unit Yorkshire Apartments for $79.4 million

  • Donaldson Group LLC’s Donaldson Impact Investments formed a mission-aligned joint venture with New York Life Investment Management, Housing Initiative Partnership.
  • Partnership acquired Yorkshire Apartments, a 326-unit multifamily property in Silver Spring, Maryland, in a USD 79.4 million transaction.
  • Deal uses Montgomery County’s By-Right PILOT tax abatement program to preserve affordability, backed by market-rate equity alongside PILOT benefits.
  • Property will shift to mixed-income housing, with 50% of units affordable to households earning up to 60% of AMI.
  • New York Life Investment Management is the majority investor; financing includes JP Morgan debt.


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