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454-unit apartment complex near Dulles International Airport has been acquired by developers Bozzuto and Invesco Real Estate as part of a $330 million investment. The sale, valued at $147 million, was finalized last Thursday (Aug. 14) according to Fairfax County property records.

    Bozzuto plans to upgrade the Ashton at Dulles Corner complex, which features four-story buildings constructed in 2007. Improvements will include renovated corridors, upgraded gyms and club rooms, refreshed courtyards, new fixtures and equipment, and enhanced curb appeal at the leasing office. Unit renovations will also be made, featuring updated flooring, appliances, kitchen and bathroom fixtures, and lighting.

    The acquisition is part of a joint strategy targeting properties built in or after 2000 with 150 units or more, particularly in D.C. and other East Coast population centers. This marks Bozzuto's second joint purchase with Invesco Real Estate, following the acquisition of Ender's Place in Orlando, Florida.

    Located near major employment centers, Ashton at Dulles Corner offers access to a robust economic base and sustained job growth. The partnership plans significant upgrades to approximately 75% of residences, as well as amenity spaces, corridors, and common areas, enhancing the living experience and positioning the community for long-term performance.