• 259-Unit High-Rise in Northern Virginia
  
• $96 Million in Sales

BETHESDA, Md. (February 28, 2006) — The Washington, D.C. regional office of LCOR Incorporated announced today that the company sold all 259 units at Wilton House, a luxury high-rise residential condominium recently completed in Fairfax County, Va. Wilton House is the company's first condo project in the Washington region; LCOR has a 30-year presence in the market as an apartment, office and mixed-use developer. Wilton House generated $96 million in sales.

Wilton House was developed by Wilton House Apartments LLC, a joint venture of LCOR, Lehman Brothers (New York) and BlackRock Realty (Florham Park, N.J.). The architect of the building was Dorsky Hodgson + Partners (Washington, D.C.); general contracting was provided by Donohoe Companies (Washington, D.C.). The Mayhood Company of McLean, Va., marketed the units for sale.

A 15-story high-rise, Wilton House is located at an exceptionally convenient Northern Virginia crossroads — directly across from the Dunn Loring Metrorail station, which is a 10-minute subway ride from downtown Washington, D.C. Wilton House also is located two miles from Tysons Corner, one of the largest employment and retail centers in the country.

Wilton House provides a mix of studio, one- and two-bedroom units with a variety of floor plans. The building's public areas include a party room, health club and business center. An outdoor pool on the roof of the building offers dramatic views.

"The Washington regional multifamily market is the strongest in the country by many measures. Northern Virginia arguably is the strongest area within the region. Wilton House is exceptionally well located; the amenities and the pricing were very attractive to the market," said Timothy D. Smith, senior vice president of LCOR.

Smith noted that LCOR is interested in acquiring apartment communities in the Washington region (and in other areas of the country) for operation as rental properties or condo conversion, as well as sites for new multifamily development.

LCOR also developed and owns Andover House apartments on 14th and N Streets in Northwest Washington, and the new United States Patent and Trademark Office headquarters campus in Alexandria. Soon LCOR will break ground on a 2.7-million square foot mixed-use, town-center-style project at the White Flint Metrorail station in North Bethesda, Md.

Based in Berwyn, Pa., LCOR is a national real estate development, investment, operations and asset management company. The firm's portfolio includes approximately $8 billion of developments completed, under construction or in pre-development.

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