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August 23, 2004 For More Information:
Joy Lutes 877.846.7760
Clark Realty Capital Receives First Certificates of Occupancy for The Clarendon in Virginia
Residents Move In to New Luxury Apartments

Clark Realty Capital Receives First Certificates of Occupancy for The Clarendon in Virginia
Arlington, Va. — Clark Realty Capital (CRC) has received Certificates of Occupancy from Arlington County for the initial phase of The Clarendon, a 292-unit luxury rental community located across from the Clarendon Metro station. The Clarendon incorporates many unique architectural features, as it integrates a 12-story tower with a four-story building and has a public street passing through its center. The 151-unit tower actually straddles 12th Court North, with a three-story archway over the road, and then intersects the 141-unit building on the other side of the street. The four-story building itself is unique as well, in that it was designed to resemble a block of upscale townhomes in order to provide a visual transition to a neighborhood of detached, single-family homes to the north. The Clarendon is being developed by Elm Street Development Group of McLean, Va. and CRC of Bethesda, Md. General contractor Clark Realty Builders will complete construction in early 2005.

Architect Torti Gallas and Partners, Silver Spring, Md., created a completely original design for The Clarendon, which offers more than 60 distinct floor plans including studio, one-bedroom, one-bedroom-with-den, two-bedroom, two-bedroom-with-den, and three-bedroom units. In addition, The Clarendon offers select two-story lofts and two- and three-story walk-up homes with private, street-front entrances. The two-story industrial-style loft units include soaring 18' ceilings, exposed concrete floors, sleek spiral ductwork, and an open steel stair. Select apartments also offer balconies, private terraces, oversized windows, French doors, sliding glass doors, fireplaces, and granite kitchen countertops. In addition, each apartment is pre-wired for high-speed Internet access and satellite television.

The building's interior public spaces, designed by Group Goetz Architects, Washington, D.C., add an elegant, contemporary feel to the community. Attractive public seating areas featuring a fireplace and water feature will serve as flexible spaces for both the social and the contemplative resident. The residents' lounge with its alabaster fireplace doubles as a formal dining room or executive boardroom. The community also offers many upscale amenities for both work and play, including a courtyard pool with sundeck, a business center, a 24-hour fitness center, a club room for private or group entertaining, and 24-hour front desk service. Parking is provided in a three-level underground garage.

The Clarendon is located just north of Wilson Boulevard, between North Herndon and Hudson Streets, at 12th Court North. Steps from Metro's Orange Line, The Clarendon is also conveniently located one-half mile from I-66, Lee Highway, and Route 50; and less than two miles from I-395 and the George Washington Memorial Parkway.

The apartments are being managed by Clark Realty Management. For leasing information, please contact a leasing professional at 703-527-3500, or visit www.clarendonapt.com.

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About Clark Realty Capital

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

About Clark Realty Builders

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

About Clark Realty Management

Clark Realty Management, L.L.C. (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.