Donaldson
Donaldson is a privately held, full-service real estate management and investment firm serving institutional investors and property owners in the Mid-Atlantic. The company provides integrated property, asset, financial, construction, and acquisition management for multifamily properties, with a 40,000+ unit management track record and an expanding affordable housing platform.
- Company typePrivate
- Founded1998
- HeadquartersRockville, United States
- Headcount101–250
- GTM typeB2B
- OfferingServices
What Donaldson does
Donaldson (The Donaldson Group, LLC) is a privately held, full-service real estate management and investment firm founded in 1998 and headquartered in Rockville, Maryland, specializing in multifamily properties across the Mid-Atlantic region (Washington DC metro, Maryland, and Virginia). The company delivers five integrated service lines—Property Management, Asset Management, Financial Management, Construction Management, and Acquisitions & Due Diligence—supported by the Yardi property management and accounting platform and a proprietary Culture KPIs Framework that tracks psychological safety, peace of mind, team engagement, and client trust through structured surveys.
The firm's revenue model combines recurring property and asset management fees, project-based construction management fees (with over $400M in renovation work executed historically), and transaction advisory fees tied to acquisitions and dispositions. Donaldson earns additional returns through principal acquisitions and joint venture equity co-investments with institutional capital partners including DRA Advisors, Angelo Gordon & Co., New York Life, and Declaration Partners. The company has advised on approximately $2.25 billion in real estate transactions and managed over 40,000 multifamily units cumulatively, with a current weighted average levered IRR of 28.1% and 10-year average annual NOI growth of 7.1%.
In 2023, Donaldson expanded into affordable housing preservation by co-founding Donaldson Impact Investments LLC, an affiliated entity that has since completed two acquisitions—Country Place Apartments in Burtonsville, MD ($62.65M, December 2024) and Yorkshire Apartments (June 2026)—using Montgomery County's PILOT tax abatement program in partnership with nonprofit developers and institutional capital. The firm is led by CEO Carlton E. Einsel, President Scott Altman, CIO Kevin H. Smith, and CFO Sylviane Nguyen, with 101-250 employees and AMO accreditation from IREM.
Donaldson firmographics
Firmographics- Name
- Donaldson
- Legal name
- The Donaldson Group, LLC
- Website
- https://donaldsonmgt.com
- Company type
- Private
- Founded year
- 1998
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- Donaldson is a privately held, full-service real estate management and investment firm serving institutional investors and property owners in the Mid-Atlantic. The company provides integrated property, asset, financial, construction, and acquisition management for multifamily properties, with a 40,000+ unit management track record and an expanding affordable housing platform.
- Ownership category
- akta.pro rank
Donaldson industry classification
Industry- Product category
- Multifamily Real Estate Management
- NAICS
- Residential Property Managers (531311), Real Estate Property Managers (53131)
- SIC
- Operators Of Apartment Buildings (6513), Real Estate Agents & Managers (For Others) (6531), Operators Of Nonresidential Buildings (6512)
- akta.pro primary industry
- Real Estate Portfolio & Fund Management (Institutional/REIT/PE) (BPAJAMAJ)
- akta.pro secondary industry
- Office Real Estate Asset Management (BPAJAMAG)
Keywords
Where Donaldson is headquartered
LocationHeadquarters
- HQ city
- Rockville
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Donaldson business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Supply Chain, Infrastructure, Marketing or Sales, Others
Revenue model
- Property Management Services: Full-service property management fees charged to property owners and investment firms for day-to-day operations, maintenance, leasing, and resident services.
- Asset Management: Strategic asset management services for investment clients overseeing portfolio performance, capital improvements, and disposition strategies.
- Construction and Renovation Management: Construction management and renovation services for property repositioning and value-add initiatives, including overseeing utility system upgrades and unit renovations.
- Acquisition and Disposition Advisory: Due diligence and transaction advisory services for clients on acquisitions and dispositions of multifamily properties.
Go-to-market motion2 records
Distribution channels3 records
Marketing channels6 records
Donaldson product offering
Product offeringCore offering
Donaldson provides full-service real estate management for multifamily properties, including day-to-day property management, strategic asset management, financial management and accounting, construction and renovation management, and acquisitions/due diligence advisory. The firm manages over 40,000 units across Maryland, Virginia, and Washington D.C. on behalf of institutional investors, private equity firms, and property owners, and operates a mission-aligned affordable housing investment platform through Donaldson Impact Investments.
Product overview
Donaldson is a full-service real estate management and investment firm specializing in multifamily housing. The company operates a platform of integrated services including Property Management, Asset Management, Financial Management, Construction Management, and Acquisitions & Due Diligence as its core offerings. The firm also maintains a sub-brand, Donaldson Impact Investments, focused on affordable housing preservation. The service model is unified rather than modular, with all services delivered through the parent company to provide comprehensive end-to-end real estate management for clients.
Differentiator
Problem solved
Functional benefit
Products and services
- Property Management Full-service property management for multifamily residential communities, including day-to-day operations, tenant relations, leasing, and maintenance services, delivered to property owners and institutional investors.
- Asset Management Strategic asset management services designed to maximize the value of real estate investments through optimization of operations, market positioning, capital improvements, and disposition strategies for institutional clients.
- Financial Management Comprehensive financial management and accounting services for residential properties, including budget preparation, financial reporting, cash flow management, and corporate financial infrastructure.
- Construction Management Construction and renovation management services overseeing renovation projects, capital improvements, and development initiatives such as utility system upgrades and unit renovations for value-add repositioning.
- Acquisitions & Due Diligence Real estate acquisition support including due diligence, investment analysis, and transaction execution for multifamily property acquisitions and dispositions on behalf of investment clients.
- Impact Investments Mission-aligned multifamily investment platform focused on acquiring, preserving, and enhancing affordable housing through socially impactful community programming, in partnership with nonprofit developers and institutional capital providers.
Quantifiable outcome
- 28.1% weighted average levered IRR on investment portfolio
- +4 more outcomes
Companies that use Donaldson
Customer profileNamed customers7 records
Segments4 records
Ideal customer profiles3 records
Donaldson technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature1 record
Donaldson partnerships and signals
Strategic signalPartnerships
Twelve partnerships are on record, tiered core and minor.
- Housing Initiative PartnershipcoreMission-aligned joint venture partner in acquisition of Yorkshire Apartments through Donaldson Impact Investments.
- So What ElseminorLocal nonprofit serving underserved families and youth with food distribution, youth enrichment, and community outreach. Donaldson partners on food drives and plans volunteer events.
- Community Services FoundationminorCommunity partner for back-to-school bookbag giveaway events with Donaldson.
- Learn24minorCommunity partner for Brookland Manor back-to-school initiative.
- UPOminorCommunity partner for Brookland Manor back-to-school bookbag giveaway.
- Affordable Homes & Communities (AHC)coreNonprofit developer providing affordable housing development expertise and social services programming. JV partner with Donaldson Impact Investments for 312-unit Country Place conversion, providing resident services and nonprofit ownership structure required for PILOT program.
- Washington GasminorUtility provider offering Multifamily Incentive Program (MIP) and EmPOWER Maryland rebates for natural gas conversion projects. Partnered with TDG on Cider Mill 864-unit renovation project achieving $1.3M NOI increase and $20M property value increase.
- Moyer & Sons Moving and StorageminorLocal moving company that donated truck and volunteers to help Donaldson communities deliver 12,000 donations to House of Ruth and other local charities.
- Rebuilding Together Montgomery County (RTMC)minorNonprofit providing free critical home repairs and accessibility modifications. Donaldson provides financial resources and skilled labor for annual community service projects including renovation of Our House youth facility.
- Shelters to ShuttersminorNational 501c3 organization transitioning individuals from homelessness to economic self-sufficiency through employment and housing in real estate industry. Donaldson supports through housing opportunities.
- Children's National Health SystemminorPediatric healthcare network serving as largest provider of pediatric care in nation's capital. Donaldson conducts blood drives and contributes to fundraisers benefiting local programs.
- Shepherd's Table of Silver SpringminorNonprofit providing free meals, social services, medical support, and clothing to homeless and in-need individuals. Donaldson supports through direct donations and employee volunteer service hours.
Scale indicators10 records
Recent moves6 records
Expansion highlights6 records
Donaldson competitors and assessment
Company assessmentBroad incumbents
- Cushman & Wakefield: Cushman & Wakefield is a global commercial real estate services firm offering property management, valuation, and advisory services. While broader than Donaldson, it competes for institutional real estate mandates and asset management assignments in the DC market.
- Greystar Real Estate Partners: Greystar is the largest multifamily property manager and operator globally, managing ~800K+ units. It competes with Donaldson for institutional third-party management contracts and is the default incumbent for many PE sponsors looking for a scaled national operating partner.
- Lincoln Property Company: Lincoln Property Company is a national multifamily management and real estate services firm managing ~210K+ units. It competes with Donaldson for institutional management mandates and offers scaled national capabilities comparable to Greystar.
Emerging players
- Wesley Housing: Wesley Housing is a DC-area nonprofit affordable housing developer and operator. It is comparable to Donaldson Impact Investments in mission and geography, representing both a potential partner and a competitor for affordable housing acquisitions in the DC region.
Direct peers
- Horning Brothers: Horning Brothers is a Mid-Atlantic multifamily owner-operator and property manager with overlapping geography and customer base. CFO Sylviane Nguyen previously held a position there, indicating direct industry overlap with Donaldson in DC-metro multifamily management.
- Pinnacle Property Management Services: Pinnacle is a multifamily property management firm managing ~170K+ units across the U.S. It competes directly with Donaldson for third-party management contracts and asset management mandates from institutional owners.
- Edgewood Management Corporation: Edgewood is a Bethesda, MD-based multifamily property management and investment firm focused on the Mid-Atlantic region. Multiple Donaldson executives (SVP Scott Jones, CFO Sylviane Nguyen) have prior tenure at Edgewood, indicating it is a direct regional competitor.
- Bozzuto Group: Bozzuto is a Greenbelt, MD-based multifamily property management, development, and construction firm with deep Mid-Atlantic concentration. It directly competes with Donaldson for institutional management contracts, value-add acquisitions, and Class A multifamily leasing in the DC metro region.
- Bernstein Management Corporation: Bernstein is a DC-based multifamily owner, operator, and property manager with deep Mid-Atlantic exposure. It directly competes with Donaldson for institutional and owner-managed multifamily assignments in the DC metro region.
Regional players
- JBG SMITH: JBG SMITH is a publicly traded REIT focused on the Washington DC metro area with a significant multifamily portfolio. It is comparable to Donaldson as a DC-focused owner-operator but competes on the ownership/development side rather than pure third-party management.
Market position
Strengths5 records
Weaknesses2 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Donaldson social profiles
Digital presenceDonaldson compliance and trust
Trust signalCompliance1 record
Donaldson financial estimates
Financial estimateRevenue estimate
Valuation estimate
Donaldson leadership team
Management profileNumber of profiles
Profiles9 records
Donaldson subsidiaries and ownership
Company hierarchySubsidiaries3 records
Donaldson funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Donaldson M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Donaldson
What does Donaldson do?
Donaldson provides full-service real estate management for multifamily properties, including day-to-day property management, strategic asset management, financial management and accounting, construction and renovation management, and acquisitions/due diligence advisory. The firm manages over 40,000 units across Maryland, Virginia, and Washington D.C. on behalf of institutional investors, private equity firms, and property owners, and operates a mission-aligned affordable housing investment platform through Donaldson Impact Investments.
Is Donaldson a public or private company?
Donaldson is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Donaldson founded?
Donaldson was founded in 1998. It employs 101 to 250 people.
Where is Donaldson based?
Donaldson is headquartered in Rockville, United States, in the North America region.
How does Donaldson make money?
Four revenue lines are on record. Property Management Services are the primary driver. The others are asset Management, construction and Renovation Management and acquisition and Disposition Advisory.
Who are Donaldson's main competitors?
Broad incumbents on record are Cushman & Wakefield, Greystar Real Estate Partners and Lincoln Property Company. Wesley Housing is listed as an emerging player. Direct peers are Horning Brothers, Pinnacle Property Management Services, Edgewood Management Corporation, Bozzuto Group and Bernstein Management Corporation. JBG SMITH is listed as a regional player.
Does Donaldson have an API?
No public API is recorded for Donaldson.
What industry is Donaldson in?
Donaldson's product category is Multifamily Real Estate Management. Its primary akta.pro industry code is BPAJAMAJ, Real Estate Portfolio & Fund Management (Institutional/REIT/PE), with a secondary code of BPAJAMAG, Office Real Estate Asset Management. Its NAICS code is 531311 and its SIC code is 6513.