$83M Buys 500-Unit Tysons Corner Apartment Complex

MCLEAN, VA-The sprawling apartment community known as Lincoln at Tysons has gotten a new owner–and a new name–now that Post Properties Inc. has acquired the 500-unit multifamily property in an $83-million deal. The residential compound will now carry the name of Post Tysons Corner.

And there are more changes afoot; Post Properties plans to spend about $2 million on upgrades at the site. The acquisition deal involved Post Properties’ assumption of a $47-million mortgage debt on the property. JM Zell Partners Ltd. brokered the deal, acting on behalf of both Post Properties, and the seller, Alder Branch Lincoln LLC.