Meridian at Carlyle Acquired and Repositioned as Lincoln at Old Town
ALEXANDRIA, Va., May 17, 2018 (GLOBE NEWSWIRE) — Lincoln Property Company, the nation’s second largest multifamily manager and leading investment sponsor, has announced the acquisition of Meridian at Carlyle, a 403-unit luxury high-rise multifamily community in Alexandria, VA.
The 16-story community built in 2001, will undergo a complete rebrand, taking the new name Lincoln at Old Town. Community-wide renovations will accompany the new brand from unit upgrades to amenity improvements. Apartment units are planned to receive high-end finishes and technology friendly packages. Current amenities include a fitness center with cardio theatre, on-site yoga classes, putting green, swimming pool, top floor clubroom, landscaped courtyard with BBQ grills, available storage units, bicycle storage, valet dry cleaning service, concierge service, guest suite accommodations, and a hospitality center with Wi-Fi.
“The renamed “Lincoln at Old Town” represents an opportunity to reposition a high-rise multifamily community in an attractive, transit-oriented location, with the ability to create value through execution of interior unit renovations and common area amenity upgrades. This property is a great addition to our value-add portfolio and we have strong performance expectations for it and the market in the long-term”, Jarl Bliss, Executive Vice President – Mid Atlantic.
The community, located within the vibrant Carlyle mixed-use district, gives residents access to major employers as well as a variety of shopping, dining and entertainment in Old Town, Alexandria. The community is extremely walkable with a neighboring Whole Foods, Starbucks and CVS and a quick walk to two metro stations, King Street and Eisenhower Avenue. Views from this high-rise multifamily community include unimpeded sights of the Potomac River and D.C. monuments.
About Lincoln Property Company
Lincoln Property Company was founded in 1965 as a builder and operator of high-quality residential communities. In the early 1970’s, Lincoln expanded its product mix to include commercial, build-to-suit, office, hotel, industrial, and other mixed-use assets. In 2001, Lincoln joined forces with the U.S. Department of Defense to renovate and redevelop family housing at selected bases for the Navy, the Marine Corps, and the Army. With over five decades as an industry leader, Lincoln now manages over 190,000 multifamily units, has developed over 210,000 units and is one of the largest operators of Military housing in the United States. Their national reputation has enabled Lincoln to attract a large client base of owners and investors who count on their ability to deliver quality results and continually serve as a market leader. For more information regarding Lincoln Property Company, please visit www.lincolnapts.com
Sheri Sandefur Killingsworth, Vice President – Marketing & Communications
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SOURCE Lincoln Property Company