Linden Property Group has completed the largest acquisition in its history with the purchase of Tysons Crossing, a 217-unit multifamily community in Virginia. The Arlington-headquartered multifamily investment firm acquired the property in partnership with Akridge, a commercial real estate investment and development company based in Washington, D.C. The transaction also marks Linden’s first acquisition in Fairfax County since 2014 and represents the firms third joint venture together.
Tysons Crossing is located a short walk from the Greensboro Metro Station, providing residents with direct transit connectivity to major employment nodes in Tysons Corner and the broader Washington, D.C. metropolitan area. The propertys location links it to one of the regions most significant job centers while also connecting to the wider regional transit network serving the capital region.
As part of the business plan for the acquisition, Linden Property Group intends to launch a capital improvement program at Tysons Crossing. The planned upgrades include interior renovations to apartment units, the creation or enhancement of amenity spaces, new landscaping, exterior improvements, and other targeted investments aimed at repositioning and updating the community. These improvements are designed to refresh the property and align it more closely with current renter expectations in the Tysons area.
The transaction involved multiple regional real estate service providers. CBRE brokered both the sale and the financing process for the deal, facilitating the transfer of the asset and the associated capital stack. Kettler, a Northern Virginia-based property management firm, will partner on property management and the transition of operations at Tysons Crossing following the acquisition. Grossberg, Yochelson, Fox & Beyda, LLP, a Washington, D.C.-based commercial real estate law firm, served as legal counsel on the transaction. AvalonBay was identified as the seller of the community.
With this acquisition, Linden Property Group expands its presence in Fairfax County after more than a decade, while reinforcing an existing joint venture relationship with Akridge. The combination of transit access, proximity to employment centers in Tysons Corner, and a planned program of physical improvements positions Tysons Crossing as a significant multifamily asset within the Washington, D.C. metro area for the new ownership partnership.
