Combined Properties Acquires Apartment Complex in Reston, VA

Washington, DC (June 12, 2018) – Combined Properties, Incorporated is pleased to announce the acquisition of a 200-unit garden apartment complex located in Reston, VA. The property formerly known as Homestead at Reston has been renamed Reston Glade.

Reston Glade is a 200-unit garden community located in affluent Reston, VA, one of the most desirable submarkets in the Washington, DC area. Its location within the Dulles Tech Corridor is particularly attractive as it provides easy access to the Dulles Toll Road, Route 28 and the Fairfax County Parkway plus residents will only be five minutes from the future Metro Station (Silver Line), scheduled to be delivered in 2019-2020. The property is ideally located near the strong amenity-based Reston Town Center, a mixed-use development offering retail, entertainment and dining options. Also, residents enjoy access to the services provided by the Reston Association including: 1,350 acres of open space, 55 miles of paved pathways and trails, 15 different swimming pools, tennis, summer camps and more.

Combined Properties is aggressively entering the residential arena with a $1 billion mixed-use development pipeline. Sunset Time (West Hollywood, CA) and Scout on the Circle (Fairfax, VA) are currently under construction with South Alex (Alexandria, VA) preparing to break ground later this fall. Reston Glade is an acquisition that enhances and diversifies the residential business lines, as it is an operating complex that has the potential to be upgraded in the future. The property is currently 96% leased.

Reston Glade will become a community known for its location and amenities, while still providing value for its residents,” said Ronald Haft, Chairman of Combined Properties. Gary Scott, VP of National Acquisitions, who represented Combined in the transaction stated, “We are extremely pleased to add Reston Glade to our portfolio. This is only the beginning of our revised acquisition strategy as we seek to acquire more residential complexes to broaden Combined’s presence in our core markets.”

Combined Properties Background
Combined Properties, Incorporated currently has over a $1 billion portfolio comprised of 40 retail and mixed-use properties growing to over a $2 billion portfolio with over 6 million square feet including current projects under development. In addition, it controls an additional $1 billion development pipeline in the Washington DC and Southern California metropolitan areas. Since its founding by Chairman Ronald S. Haft, Combined Properties has always looked for the true potential of a commercial property. The Company strives to apply its creativity and expertise in development, finance, leasing and asset management to shape projects into innovative lifestyle residential, retail, and hospitality communities that instill pride and joy in the people that live, shop, and stay there.

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