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Lerner Enterprises Opens Phase 1 of Parc Dulles at Dulles Town Center, a Luxury Rental Apartment Community

Dulles, Virginia, December 18, 2006 - Lerner Enterprises, Washington, D.C.’s largest private real estate developer, officially opened Phase I of Parc Dulles at Dulles Town Center for leasing to the public on December 15, 2006.  The residential community is located at City Center Boulevard and Stefanie Place in Dulles, Loudoun County, Virginia.  The project will be completed by the summer of 2007.

When fully completed, the luxury garden apartment community will feature 393 luxury residential apartments.  The community is adjacent to the 1.4 million square foot Dulles Town Center Mall and within the master planned Dulles Town Center mixed-use development.

"There is nothing like it in Loudoun County.  This is a unique community developed specifically to meet the growing demand for corporate apartments and the affluent apartment renters in Loudoun County” said Mark D. Lerner, a Principal of Lerner Enterprises.  "We expect nothing but success from our newest community that includes spacious apartments, three distinctive unit types, granite countertops and an 8,000 square foot clubhouse with a spa, steam room, private theater and billiards room” Lerner said.

When completed in 2007, Parc Dulles at Dulles Town Center will consist of 16 residential buildings and 393 total apartments.  The architectural program is composed of three building styles: Courtyard Homes, Garden Apartments, and Carriage Homes.  The Courtyard Homes are three-story buildings grouped like rows of townhouses, each containing three apartment units.  A garage and tandem space is provided for each of the 45 Courtyard Home units.  The Garden Apartments are three-story breezeway buildings composed of 13 unit types with reserved parking at selected locations.  The Carriage Homes feature both a private entrance and a garage in a resort style environment.

For additional information on Parc Dulles at Dulles Town Center, please visit ParcDullesatDTC.com.

About Lerner Enterprises:

Lerner Enterprises, founded by Theodore N. Lerner, is located in North Bethesda, Maryland, and is Washington, DC's largest private real estate developer.  The company is involved in all phases of commercial, retail, and residential real estate including planning, development, construction, leasing, and asset and property management.  Included in the Lerner residential portfolio is the award winning Lillian Court at Tysons II condominiums in McLean, Virginia; Remington at Dulles Town Center in Dulles, Virginia; Tower 2000 in Alexandria, Virginia; and Oxford Square at White Flint in Rockville, Maryland.  Lerner has developed over 7,000 apartment units in the Washington, D.C. metropolitan area; Richmond and Newport News, Virginia.

About Dulles Town Center:

Dulles Town Center, a 554 acre master-planned mixed-use project located in Dulles, Virginia is home to commercial, retail, and residential projects.  The development features Dulles Town Center Mall, a 1.4 million square foot super-regional mall with over 185 specialty stores and restaurants, Nordstrom, JCPenney, Sears, Macy’s, Dick’s Sporting Goods, and The Cheesecake Factory.  Other projects include The Corporate Office Park at Dulles Town Center, Courtyard by Marriott at Dulles Town Center, The Colonnade Townhomes, and The Remington at Dulles Town Center luxury apartment community.