Post Properties purchased Lincoln at Tysons, a 500-unit infill apartment community located on approximately 16 acres in the Washington, D.C., suburb of McLean, Va.
Post paid approximately $83 million for the community.
The property is located within two blocks of Tysons Galleria and Tysons Corner Center, the Washington-area’s largest shopping mall, which includes numerous high-quality hotel and dining options. The property, built in 1990, was approximately 98 percent occupied at the time of sale and contains one- and two-bedroom units with an average size of 868 square feet.
The seller was Alder Branch Lincoln LLC. JM Zell Partners Ltd. represented both Post and Alder Branch in the transaction.
Post plans to spend up to approximately $2 million to improve the community, which will be renamed Post Tysons Corner.
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