POTOMAC, MD — July 9, 2026 — Foulger Pratt, a premier privately owned real estate investment and development firm, announced the recapitalization of Woodbridge Station, a 600-unit, garden-style multifamily residential community located in Woodbridge, Virginia. The asset was acquired through a newly established joint venture vehicle alongside institutional partners including Tryline Capital, marking a strategic continuation of Foulger Pratt’s localized growth and value-add investment portfolio.

The transaction represents a unique, cross-generational transition for the property. Woodbridge Station was acquired from a separate legacy Foulger Pratt affiliate that successfully owned, managed, and stabilized the expansive 44-acre asset for more than 20 years. By restructuring the asset under this new institutional joint venture, Foulger Pratt is positioned to unlock fresh capital and pioneer a new era of modernization for the community while leveraging deep, historic knowledge of the submarket.

“We are delighted to welcome our new partners in the recapitalization of Woodbridge Station Apartments. This collaboration brings a fresh vision for the community, focusing on impactful asset enhancements,” said Joe Clauser, Chief Financial Officer. “Our upcoming plans will elevate the resident experience through upgraded common areas, vibrant exterior updates, and beautifully renovated apartment interiors. Woodbridge Station has been a fantastic property for Foulger Pratt for many years, and we are excited to guide it into its next era.”

“Tryline is proud to partner with Foulger Pratt on developing and executing on the next chapter for Woodbridge Station Apartments and shares its commitment to this vision,” said Jaryn Horner, Managing Partner at Tryline. 

Following the acquisition, the joint venture will immediately launch a comprehensive capital improvement program to transition the asset into a premier, market-rate community. The extensive renovation initiative will focus heavily on upgrading tenant interiors and revitalizing common-area amenities.

Key components of the planned modernization include:

Unit Interior Upgrades: Implementing a phased interior renovation program featuring modern finishes, updated flooring, and premium appliances.

A New Fitness Center: Constructing a fully equipped, modern gym facility to support resident health and wellness.

Sport Court Repurposing: Transforming an underutilized outdoor sport court into a functional, in-demand community space.

Exterior Updates: A variety of exterior improvements throughout the community including building painting, parking improvements, enhanced landscaping and general exterior amenity refresh.

Conveniently located near Interstate 95, Route 1, and the Woodbridge Virginia Railway Express (VRE) station, Woodbridge Station remains a highly desirable residential hub. The planned enhancements will seamlessly blend the new ownership’s institutional standards with the community’s established neighborhood appeal.

About Foulger Pratt: Established in 1963, Foulger Pratt is a real estate investment and development firm distinguished by its long-term focus and extensive experience executing successful mixed-use, transit-oriented projects. The firm’s disciplined culture and vertically integrated platform have enabled it to develop more than 15 million square feet of commercial office, multi-family residential, and retail projects. Privately owned, led, and staffed by many of the industry’s most talented professionals, Foulger Pratt’s culture has been carefully cultivated for over half a century through a deliberate effort to consistently uphold core corporate values. The result is a reputation of unmatched integrity, accountability, and vision. For more information, visit Foulger Pratt.

About Tryline Capital: Tryline is a real estate investment firm based in New York. It invests in multifamily and residential mixed-use properties across the Mid-Atlantic and Northeastern United States. Since launching in 2020, Tryline has invested in properties totaling nearly 5,000 apartment units. The firm seeks to build lasting relationships with best-in-class local partners and has a family office mindset that combines flexibility with a long-term perspective. For more information, visit Tryline Capital.