In 2020, COVID-19 pushed the peak leasing back to May.

The firm acquired a five-property apartment portfolio for $142 million, an illustration of the firm's market confidence through the pandemic.

The Donaldson Group, Declaration Partners and a fund managed by DRA Advisors will execute extensive capital improvements at the Annandale property.

Even if there isn't real distress in the market, a lot of developers will still want to get out of deals as their equity will have been wiped out.