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Clark Realty Completes Potomac Station Apartments in Virginia

November 14, 2002

LEESBURG, Va. — Clark Realty Capital*, a national real estate firm headquartered in Bethesda, Md., recently completed Potomac Station Apartments, a 150-unit apartment development in the new Potomac Station planned community. The homes were constructed by Clark Realty Builders** and are being managed by Clark Realty Management***.

Clark Realty Completes Potomac Station Apartments in Virginia Press Release Image

Potomac Station Apartments

Clark Realty Management has already leased 80% of the apartments with the leasing office open from 9 a.m. to 6 p.m. Monday through Friday, 10 a.m. to 5 p.m. Saturday, and noon to 5 p.m. Sunday. Rents range from $875 to $1220 and are subject to income qualifications. The leasing office can be reached at 703-669-8098.

The three-story, wood-framed apartment community, designed by Meyers and Associates of Silver Spring, Md., is a high quality development providing residents who meet income qualifications an opportunity to live within the Potomac Station planned community. Community amenities include a business center, community room, pool house, workout room, bathhouse, and tot lot. The six residential buildings will also offer a selection of floor plans, including two-bedroom/one bath, two-bedroom/two bath, and three bedroom/two bath models.

Located in Loudoun County not far from the Leesburg historic district, Potomac Station includes more than 1,400 residential units divided among townhomes, single-family residences, and apartment homes. The community also features office space, retail shops, new elementary and middle schools, and two new four-lane parkways.

Recreational amenities within Potomac Station include a community center with a pool, tennis courts, and numerous hiking and biking trails along Goose Creek.

Clark Realty Capital originally acquired the 700-acre Potomac Station planned community in 1994 and overcame such development challenges as managing interstate utility transmission lines and preserving the scenic Goose Creek easements.

Potomac Station Apartments is located on eight acres at the intersection of Fort Evans Road and the future Battlefield Parkway, which is located a half-mile east of Route 15 - Bypass. Potomac Station Apartments is part of the Potomac Station Marketplace, a 60-acre mixed-use parcel that offers 275,000 square feet of retail and 110,000 square feet of office space.

The Potomac Station planned community is convenient to both Reston and Tysons, Dulles Airport, Leesburg Corner Outlet Mall, and University Center. The community is also close to many of Loudoun County's major employers, like Orbital Sciences Corporation, AOL Time Warner, United Airlines, Atlantic Coast Airlines, Alcatel Data Networks, and the Federal Aviation Administration.

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* Clark Realty Capital, L.L.C. (CRC) offers a full spectrum of services to the real estate industry including investment, development, construction, property management, capital markets, and real estate strategies.

** Clark Realty Builders (CRB) is a national, multifamily general contractor recently ranked as the sixth largest such firm in the U.S. by Builder magazine.

*** Clark Realty Management (CRM) is a property management company dedicated to serving owners and residents with state-of-the-art management services using the latest technologies available. CRM is a full-service firm providing value-added services from the conceptual design phase through marketing, lease-up, maintenance, and asset management. Clark Realty began management of apartment and commercial properties in 2001.