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Linden Property Group buys 217-unit Tysons Crossing in Fairfax County
The acquisition, its biggest to date, follows Linden’s first Fairfax County purchase since 2014 and will fund renovations plus new amenity and exterior improvements.
Linden Property Group, a multifamily real estate investment firm headquartered in Arlington, has acquired Tysons Crossing, a 217-unit apartment community in Virginia, in partnership with Akridge, a Washington, D.C.-based commercial real estate investment and development firm, according to ConnectCRE.
The deal is the largest acquisition in Linden’s history, and it represents the firm’s first purchase in Fairfax County since 2014. ConnectCRE also reports the transaction is Linden’s third joint venture with Akridge.
Tysons Crossing is located within walking distance of the Greensboro Metro Station, providing direct access to employment centers in Tysons Corner and the broader Washington, D.C. metro area, per ConnectCRE.
Linden plans to execute a capital improvement program at the property that includes interior unit renovations, new amenity spaces, landscaping, exterior improvements, and other strategic investments. CBRE brokered the sale and financing process, Kettler will partner on management and transition, and AvalonBay was the seller, ConnectCRE reported.