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Lerner Announces Plans To Redevelop Berkeley Square Apartments

Vienna, Virginia, April 11, 2005 – Lerner Enterprises of North Bethesda, Maryland one of Washington, D.C.'s premier real estate developers, announced today that it plans to renovate and rename Berkeley Square Apartments in Vienna, Fairfax County, Virginia. The renovation will enhance the overall living experience and affirm the community's position as a premier place to live. The multi-million dollar renovation will dazzle a new generation of apartment residents in the Fairfax County area. Upon completion, the property will be renamed Arrowood Parc.

Berkeley Square enjoys a superb location within the prestigious Fairfax County Public School district. It is convenient to the Vienna Metro (Orange Line), I-66, Route 50, the Capital Beltway (I-495), Tysons Corner and all of northern Virginia's employment, shopping and entertainment areas. The tree-lined community is centrally located between Dulles International and Reagan National Airports.

The property will remain open during renovation. Construction is underway with completion of the renovated common areas and building exteriors scheduled for the Summer 2005.

The scope of the exterior renovations will include a complete upgrade of the community's common areas and amenities including lush landscaping, grand entrance, new playgrounds, refurbished pool house and expanded state-of-the art fitness center. The unit interior renovation will focus on upgrades including new kitchens, bathrooms, appliances, doors and carpet. The common area hallways will receive a thorough facelift with new flooring, wall covering, lighting and modern laundry room facilities.

"We built Berkeley Square in Vienna in 1966 and Vienna has remained one of our most popular locations," said Clarke Green, Director of Marketing, for Lerner Corporation, the leasing and management affiliate of Lerner Enterprises. "It makes sense that we renovate this valuable community as it enjoys a superb location with easy access to public transportation and all of northern Virginia".

Berkeley Square boasts 300 apartment units, comprised of one-bedroom, one-bedroom-plus-study, and two-bedroom apartment homes. The floor plans are spacious and average 878 sq. ft. Residents enjoy a variety of community amenities including an Olympic size swimming pool, a children's wading pool, tennis courts, basketball court, fitness center, and playgrounds.

For additional information about Berkeley Square Apartments and the entire Lerner residential portfolio, please call 301.984.1500 or visit us online at RentHere.net.

Lerner Enterprises, founded in 1952 by Theodore N. Lerner, is Washington, DC's largest private real estate developer and is involved in all phases of residential, office and retail 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; Chesapeake Bay Apartments in Newport News, Virginia and Oxford Square at White Flint in Rockville, Maryland. Lerner has developed over 7,000 apartment units in the Washington, DC metropolitan area.