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A 412-unit apartment building in Tysons has become The Jones at Tysons following a $175.1 million sale to Mesirow Financial.
Previously known as Hanover Tysons, the property at 1500 Westbranch Drive was sold by its original developer, The Hanover Company. The transaction closed Dec. 19 and was announced Jan. 13.
Mesirow CEO Alasdair Cripps said the building’s amenities, proximity to major employers and shopping destinations, and access to highways and public transportation contributed to its appeal.
It remains unclear whether the rebranding will bring changes for residents beyond the new name. Chicago-based Mesirow did not provide additional details by press time.
The Fairfax County Board of Supervisors approved the development in March 2019, and the building opened in 2022. Twenty percent of its apartments are designated as workforce housing. The property also includes 1.13 acres of publicly accessible parkland, a swimming pool, a recreational courtyard and a fitness center.
The building is near Tysons Corner Center, Tysons Galleria and Capital One Center.
Another major apartment sale nearby
The Jones is not the only large Tysons apartment property to change ownership recently. Sentinel Real Estate acquired the nearby Brentford at the Mile for $167.25 million on Jan. 3.
The 411-unit building at 7970 Maitland Street was completed in 2023 as part of The Mile, a planned redevelopment of the 38-acre Westpark Business Park. County supervisors initially approved plans in 2019 calling for more than 3 million square feet of mixed-use development.
Only two of the project’s 13 planned buildings, Brentford and Highgate, have been completed. The county approved another component in 2022: Charlton at The Mile, a residential building paired with a self-storage facility.
Sentinel has not announced changes for Brentford. The New York City-based company emphasized the property’s connections to Washington, D.C., Tysons retail and entertainment, and major employers including Capital One and Hilton.
The acquisition was part of Sentinel’s effort to expand in the Washington suburbs. The company also bought Aventon Crown in Gaithersburg, Maryland, and renamed it Rockwell at Crown. Its regional holdings include two Arlington apartment buildings and a Washington office property.
Sentinel Managing Director George Tietjen said the acquisitions gave the company an opportunity to establish an immediate presence in the competitive D.C. suburban market. He cited the properties’ upscale residences, amenities, nearby retail and entertainment, and access to employment centers across the Washington region.