Bozzuto and Invesco Real Estate Joint Venture Acquires Ashton at Dulles Corner
Bozzuto and Invesco Real Estate have announced the joint acquisition of Ashton at Dulles Corner, a 454-unit apartment community located in the fast-growing Reston-Herndon corridor of Northern Virginia.
This marks the second acquisition under their $330 million joint multifamily investment program, which holds a total deployment capacity of approximately $1 billion. The strategy focuses on acquiring value-add multifamily assets.
Strategically positioned within one of the Washington, D.C. metro area’s most economically dynamic regions, Ashton at Dulles Corner offers residents proximity to significant employment hubs, a strong economic foundation, and consistent job growth. As part of their value-enhancement strategy, the partnership plans to upgrade approximately 75% of the residences along with enhancements to the community’s amenity spaces.
“Northern Virginia continues to see strong job growth, and we look forward to elevating Ashton at Dulles Corner through thoughtful renovations and best-in-class management,” said Toby Bozzuto, President and CEO of Bozzuto.
The joint venture is targeting properties built in 2000 or later with 150 or more units. Geographic targets for future investments include markets across Massachusetts, New York, New Jersey, Washington D.C., North Carolina, Tennessee, Georgia, and Florida.
