Our Firm

We create extraordinary value for our investors, partners, and communities alike.

Since its founding in 1996, Penzance has invested over $2.8 billion in real estate through partnerships with blue-chip institutional investors, separate accounts, joint ventures, and our discretionary fund.

We are proud of our deep roots in the DC metro community and focus our investment efforts on value-add multifamily and office assets, and mixed-use development opportunities, where we leverage our operating platform and access to asymmetrical situational opportunities to produce outsized returns.

Our ability to source more than 50% of our investments off-market is a testament to our deep local relationships, experience, and proprietary sourcing methods which allow us to identify market inefficiencies.

Our Firm

We create extraordinary value for our investors, partners, and communities alike.

Since its founding in 1996, Penzance has invested over $2.8 billion in real estate through partnerships with blue-chip institutional investors, separate accounts, joint ventures, and our discretionary fund.

We are proud of our deep roots in the DC metro community and focus our investment efforts on value-add multifamily and office assets, and mixed-use development opportunities, where we leverage our operating platform and access to asymmetrical situational opportunities to produce outsized returns.

Our ability to source more than 50% of our investments off-market is a testament to our deep local relationships, experience, and proprietary sourcing methods which allow us to identify market inefficiencies.

Investment Philosophy

At Penzance, a granular focus on operations and cross-departmental collaboration are the keys to unlocking value where others see obstacles. Our best-in-class team of diverse subject matter experts in finance, engineering, development, and property and construction management, uses its market knowledge to uncover situational inefficiencies and find distressed and transitional assets, to which we apply our collective knowledge to repositioning and creating value.

Our strategy is to control and manage the full range of a property’s lifecycle and leverage our operational expertise to quickly and accurately underwrite and perform due diligence on new opportunities. This early stage of collaboration often yields unique value creation initiatives, creating cohesive organizational buy-in to the execution of our investment philosophy.

Values

Click or tap to reveal our values.

Integrity: Transparency and trust are fundamental to the way we do business. We are motivated by our partners’ success and core missions.

Sustainability: We aspire to be a leader and exemplar in sustainability in the industry with a focus on minimizing our environmental footprint within our portfolio.

Operational Excellence: With development, property, and asset management teams in-house, we have a fully collaborative team dedicated to creativity and reliable excellence.

Innovation: We specialize in creative solutions, allowing us to realize opportunities where others see obstacles.

Partnership: We seek out investors and partners who share our values, and we make their goals our own.

Value Creation: We recognize opportunity where others see obstacles and find common goals where others see conflict.  Our integrated team is positioned to capitalize on market and asset inefficiencies to add significant value.

Diversity: We aspire to build a diverse and inclusive organization and to prioritize partnerships with service providers and contractors who share these values and have demonstrated a commitment to diversity and equity.

Integrity Sustainability Value Creation Diversity Operational Excellence Innovation Partnership

Values define who we are and guide how we measure success.

Explore our history using the arrows or the dots below the photos

Our History

We’ve been building value and creating communities in the greater Washington area since 1996.

Our Team

With fund management, acquisition, property management, asset management, leasing, construction, and development teams in-house, we have an integrated, collaborative team dedicated to creativity and excellence.

The Penzance team applies diverse disciplines to every investment. This integrated approach means that from beginning to end, project components are controlled in-house, allowing for deeper insights to inform decision making.

By embracing individual backgrounds, beliefs and experiences we leverage unique perspectives into creative solutions, better investment decisions and returns. Our diversity of experience sets us apart.

Our Team

With fund management, acquisition, property management, asset management, leasing, construction, and development teams in-house, we have an integrated, collaborative team dedicated to creativity and excellence.

The Penzance team applies diverse disciplines to every investment. This integrated approach means that from beginning to end, project components are controlled in-house, allowing for deeper insights to inform decision making.

By embracing individual backgrounds, beliefs and experiences we leverage unique perspectives into creative solutions, better investment decisions and returns. Our diversity of experience sets us apart.

Julia Springer

Managing Partner and Founder

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Julia Springer

Managing Partner and Founder

Ms. Springer co-founded Penzance with Victor Tolkan in 1996. Assets under management currently exceed $1.3 billion with an aggregate transaction volume of $2.8 billion over the firm’s 23-year history in partnership with blue chip institutional investors. In 2017, the firm launched the Penzance DC Real Estate Fund, to invest in value add and opportunistic strategies, including development projects, across the Washington metropolitan region. 

Ms. Springer served as an economist for the Board of Governors of the Federal Reserve and at Resources for the Future, and as clerk for United States District Judge Peter Beer (ED, Louisiana) before she co-founded the firm. She was an attorney in the real estate and corporate transactions group at the law firm of Shaw Pittman LLP, now Pillsbury. Ms. Springer serves on the Board of Trustees for the Field School in Washington, DC and has served on the boards of the Children’s Law Center and the Jordan River Foundation, and as co-chair of the DC Leadership Circle of Women for Women.

Competitively selected for fellowship in the PhD Economics Program at MIT, Ms. Springer decided to attend law school and earned her JD from the University of Virginia School of Law.

Victor Tolkan

Managing Partner and Founder

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Victor Tolkan

Managing Partner and Founder

Mr. Tolkan’s extensive real estate connections, market knowledge and entrepreneurship make him a leader in the industry. More than 20 years ago, he, along with Julia Springer Tolkan, co-founded Penzance, a real estate investment firm. The firm’s assets under management currently exceed $1.3 billion with an aggregate transaction volume of $2.8 billion over the firm’s history in partnerships with blue chip institutional investors through separate accounts, joint ventures and its discretionary fund.

In 2017, the firm launched Penzance Real Estate Investment Fund, to invest in value add and opportunistic strategies, including development projects, across the Washington metropolitan region. As Managing Partner, he is intimately involved in all investment activities, including acquisitions, developments, re-developments, financings, asset management, leasing, and dispositions.

A Washington, DC native, Mr. Tolkan utilizes his connections and extensive market knowledge to uncover cyclical as well as situational opportunities, works to develop capital strategies appropriate for such opportunities, and oversees timely execution. Mr. Tolkan is central to the development of appropriate business plans for each asset and monitors performance against these plans.

Prior to co-founding the firm, Mr. Tolkan was responsible for the site acquisition, development, leasing, management, tenant build-out, and design for CNV Partnership. He was also the President and CEO of The Door Store, a retail furniture business. Mr. Tolkan received his BA from Tulane University.

Jeff Tidona

Senior Financial Analyst

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Jeff Tidona

Senior Financial Analyst

Mr. Tidona is a Senior Analyst responsible for supporting the acquisitions team by underwriting prospective value-add office/multifamily properties and ground-up development deals and assisting with due diligence. Mr. Tidona also supports the firm’s asset management team by performing financial analyses for Penzance’s portfolio of existing assets and development projects, as well as for property dispositions, recapitalizations and refinancings.

Previously, Mr. Tidona worked in the Financial Markets practice at PricewaterhouseCoopers in Washington, D.C. where he supported attestation engagements for CMBS, CMO, and other asset-backed securities.

Mr. Tidona earned both his Master of Accounting and BBA from the Raymond A. Mason School of Business at the College of William & Mary.

Alexis Papa

Executive Assistant

 

Alexis Papa

Executive Assistant

Cris White

Managing Director, Investments

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Cris White

Managing Director, Investments

Mr. White is the Managing Director for Investments at the firm. He has 14 years of professional experience in commercial real estate, finance and consulting in Washington, DC and New York.

His primary focus is to invest the $255 million Penzance Real Estate Fund as well as oversee strategic initiatives on Penzance’s existing assets, including 1.7 million square feet of office, nearly 1,000 apartment units, approximately 900 apartment units under construction, and approximately 2 million square feet of development pipeline.

Previously, Mr. White led the Acquisitions and Investments Team in the Washington, DC market for MRP Realty. He was directly involved in over $1 billion total capitalization in multiple product types. Mr. White also worked at H/2 Capital Partners in Stamford, CT where he focused on investments and risk management of debt securities collateralized with real estate assets across the United States, Canada, and London.

Mr. White serves on the Board of Directors for the Montgomery College Foundation and is a Trustee of the Jerome S. and Grace H. Murray Foundation.

He graduated from Princeton University with an A.B. in Politics and Certificate of Political Economy.

Melissa Brooks, CPA

Controller

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Melissa Brooks, CPA

Controller

As controller, Melissa Brooks oversees all the accounting and financial operations related to fund administration, property assets and corporate entities.

Ms. Brooks has 24 years of accounting experience with publicly traded and private companies as well as public accounting firms.  After several years in public accounting, she worked at a number of real estate companies with a range of property types including commercial office buildings, residential apartment communities, hospitality properties, senior living centers, retail shopping centers and diverse construction and development projects. She also has worked on several initial public offerings and multiple secondary offerings for both common stock and preferred equity.

Ms. Brooks has extensive experience in accounting operations including financial accounting, SEC reporting, internal controls, audits, systems implementation, treasury management, budgeting and forecast analysis, payroll and employee benefits, and information technology.

Prior to coming to Penzance, Ms. Brooks owned and operated her own accounting firm.  Previously, she held positions at Bresler & Reiner, Inc., The Mills Corporation (now owned by Simon Property Group), Crestline Capital Corporation, Host Marriott and PricewaterhouseCoopers.

Ms. Brooks is a Certified Public Accountant with a BS in Accounting and a BA in French from Oakwood University and an MBA from the University of Maryland.

Michael Lefkowitz

Senior Vice President and General Counsel

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Michael Lefkowitz

Senior Vice President and General Counsel

Mr. Lefkowitz is the Senior Vice President and General Counsel of Penzance. He is responsible for the company’s legal activities, providing advice and counsel, and review of leasing, ownership structuring, contract negotiation, and general operations.

Previously, Mr. Lefkowitz was a partner at the law firm of Holland & Knight, LLP in Washington, DC, where he represented developers, pension funds, institutional owners, hospitality companies, investors, and corporate tenants in the acquisition, sale, leasing, financing, and development of real estate assets.

Mr. Lefkowitz is a graduate of Muhlenberg College and the University of Baltimore School of Law.

John E. Kusturiss III

Senior Vice President, Development and Construction

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John E. Kusturiss III

Senior Vice President, Development and Construction

Mr. Kusturiss is the Senior Vice President, Development and Construction. He oversees development and construction activities for the firm including ground-up development. With 15 years of real estate experience he has been responsible for the due diligence, acquisition entitlement, design management, construction management, and leasing efforts for over 1.5 million square feet of new product.

Previously, Mr. Kusturiss worked at Equity Residential on the development team where he managed development and construction activities for six Class-A apartment projects totaling over 1,500 units and 50,000 square feet of retail. Prior to that, Mr. Kusturiss worked for Clark Construction coordinating the design and construction of new multifamily buildings in the DC metropolitan area.

Mr. Kusturiss serves on the Board of Directors of NAIOP and as the Co-chair of the Arlington County Government subcommittee. Additionally, he serves on the Rosslyn BID Urban Design Committee and is a 2016 Leadership Center for Excellence 40 Under 40 Honoree.

He received his BS in Engineering Technology from the University of Delaware and his MBA from the George Washington University.

Sean Bare

Chief Financial Officer

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Sean Bare

Chief Financial Officer

As CFO, Mr. Bare oversees all financial management functions including accounting, reporting, fund administration, financial planning, portfolio management, treasury, debt capital markets and information technology.

Mr. Bare has over 25 years of commercial real estate experience with public and private companies in finance, accounting, capital markets, and strategic planning. He has built a $100 million lending platform, helped grow a regional office REIT to a national firm, raised $11 billion of debt and equity capital, restructured $2 billion of debt, analyzed private and public company investments, and participated on strategic planning management committees for financial services and commercial real estate firms creating significant value for investors.

Previously, Mr. Bare held positions at Baja Longtail Capital, American Capital, Ltd. and CarrAmerica Realty Corporation.

Mr. Bare received his Bachelor of Science degree in Accounting with a minor in Management Information Systems from the University of Delaware and is a Certified Corporate Financial Planning & Analysis Professional.

Lauren Kowall

Vice President, Investments

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Lauren Kowall

Vice President, Investments

Ms. Kowall is a Vice President responsible for supporting the firms acquisitions and investments in value-add and stabilized office properties.

Previously, Ms. Kowall was a Vice President on the investments team at MRP Realty, where she focused on office and industrial acquisitions valued at over $800 million in total capitalization. Prior to that, she worked at The JBG Companies on portfolio management for JBG’s investment funds.Ms. Kowall is an active member of Commercial Real Estate Women (CREW), and DC Real Estate Group.

She earned her Bachelor of Science in Applied Mathematics and Economics from Brown University.

Chris Keeling

Vice President, Asset Management

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Chris Keeling

Vice President, Asset Management

Mr. Keeling is responsible for oversight and value-enhancement of the Penzance multifamily portfolio.

Prior to joining Penzance, Mr. Keeling was a Director with WinnCompanies where he oversaw acquisitions and asset management of the firm’s market-rate platform, specializing in value-add repositioning and new development for portfolios nationwide. Previously, Mr. Keeling spent nearly ten years in multifamily property and asset management in a variety of submarkets across the Mid-Atlantic and Southeast.

Mr. Keeling is a member of NMHC and the NAA.

He received his BS from Appalachian State University and MBA from the Kenan-Flagler School of Business at UNC Chapel Hill.

Leah Amato

Executive Director, Property Management

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Leah Amato

Executive Director, Property Management

Management for Penzance office properties and has more than 30 years of experience in the industry. Her team includes 30 property management and engineering professionals who manage the day-to-day operations and capital improvements for the portfolio.

Previously, she was a Director of Asset Services at CBRE where she oversaw 41 office professionals and engineers and the operations of over 8 million square feet of office, warehouse, flex, retail, medical office, and mixed-use properties in Maryland, DC, and Virginia.

She is a former Board Member of the NAIOP Awards Committee, holds a Maryland Real Estate License, and received awards including the CBRE Manager of the Year in 2000 and 2002, and MVP of Asset Services in 2006.

Ms. Amato received a BS in Accounting from the University of Baltimore.

Judy Lee

Financial Systems and Applications Manager

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Judy Lee

Financial Systems and Applications Manager

Judy Lee is Financial Systems and Applications Manager responsible for management, governance, security and accuracy of financial information and data stored in accounting applications. In her oversight of these applications, she deploys the latest technology, which helps to generate revenue, analyze and lower costs, mitigate risks, and assure the accuracy and reliability of Penzance’s financial and budgetary information.

Prior to joining Penzance, Ms. Lee served as the Director of Accounting and Operations for an organization based in Arlington, VA, where she was responsible for company operations and client property accounting, including contractual and legal obligations and policies, associated internal controls, and financial reporting.

Ms. Lee has 15 years of accounting and finance experience with private real estate companies and has completed required training to access federal procurement systems for contracts with the Department of Defense (DoD) and General Services Administration (GSA). She is working to obtain the Property Management Financial Proficiency Certificate through BOMI International Institute and has been accepted into the Accelerated Bachelors to Master’s program at the Southern New Hampshire University.

Gordon Huey

Senior Financial Analyst

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Gordon Huey

Senior Financial Analyst

Mr. Huey is a Senior Analyst responsible for supporting the acquisitions team by underwriting prospective value-add office/multifamily properties and ground-up development deals and assisting with due diligence. Mr. Huey also supports the firm’s asset management team by performing financial analyses for Penzance’s portfolio of existing assets and development projects, as well as for property dispositions, recapitalizations and refinancings.

Previously, Mr. Huey worked as a Financial Analyst on Clarion Partner’s multifamily asset management team, where he focused on the operations of 12 east coast multifamily properties, totaling over $1 billion in gross asset value. Prior to Clarion Partners, Mr. Huey worked as a Market Research Analyst for CoStar, responsible for CoStar’s official market reports for multifamily and office markets throughout the Carolinas.

Mr. Huey is active in the Young Real Estate Professionals of DC and in Penzance’s summer internship program.

He received a BSBA in Real Estate and Finance from the University of South Carolina and is currently pursuing his Masters in Real Estate and Infrastructure at Johns Hopkins University.

Jacqueline Jawitz

Corporate Controller

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Jacqueline Jawitz

Corporate Controller

Ms. Jawitz is the Corporate Controller responsible for overseeing the books and records of all Corporate and Upper Tier entities, preparing financial statements, forecasting/budgeting, financial reporting, and any other financial activity impacting the Penzance corporate entities.

Prior to joining Penzance, Ms. Jawitz served as Finance Director for an international education organization. She was responsible for management and oversight of the company’s accounting and finance department. She led the company through a restructuring and successful merger including systems and operational integrations as well as the acquisition of another education organization. Before that she was as an auditor for PricewaterhouseCoopers, LLP in Tysons, VA and Miami, FL, where she conducted financial statement audits, including managing client relationships, analyzing financial data, assessing risk, devising and implementing testing strategies to assure completeness and accuracy under US GAAS, and providing guidance and expertise on financial statement reporting and disclosures.

Ms. Jawitz is an active member of American Institute of Certified Public Accountants (AICPA) and a licensed Certified Public Accountant in New York. She attended the University of Miami where she received her master’s degree in taxation and a bachelor’s degree in accounting.

Albina Atabaeva

Property Controller

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Albina Atabaeva

Property Controller

Ms. Atabaeva is a Property Controller responsible for several properties in the firm’s portfolio.

Previously, Ms. Atabaeva served as an auditor in the Tysons, Viriginaoffice of Baker Tilly Virchow Krause, LLP. She led financial statement audits at every stage ofthe process, including managing client relationships, ensuring financial statements and related disclosures were in accordance with accounting standards and evaluated key business processes and strategies to improve the design and effectiveness of internal controls. Before that she worked at The Oliver Carr Company as an investment accountant.

Ms. Atabaeva is an active member of American Institute of Certified Public Accountants (AICPA) and Association of Certified Fraud Examiners (ACFE). She is a licensed Certified Public Accountant in the State of Maryland and received her Bachelor’s degree in Engineering from Kazan National Research Technological University, Russia.

Jeb Boland

Vice President, Leasing

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Jeb Boland

Vice President, Leasing

Mr. Boland is Vice President, Leasing responsible for the leasing and marketing of Penzance’s portfolio.

Mr. Boland has over 16 years of experience in the commercial real estate industry, primarily focused on leasing, acquisition and asset management of office buildings. He has been responsible for stabilizing assets and achieving attractive dispositions, in addition to assisting with acquisition efforts. His experience in due diligence, development, landlord and tenant representation helps to maximize value through creative and comprehensive analysis.

Previously, Mr. Boland was Director of Leasing at Brandywine Realty Trust where he oversaw leasing and worked with the asset management teams of its four million square foot Washington, D.C. portfolio. Before that, Mr. Boland was Senior Leasing Representative at First Potomac Realty Trust.

He currently serves on the board of the NAIOP DC-MD chapter and is a committee Chair for the Commercial Real Estate Broker Association. He takes pride in giving back to the community through the Monumental Scholars Fund, Christy Child Society and the Knights of Columbus.

Mr. Boland received his Masters of Science in Real Estate from Johns Hopkins University and his Bachelor of Science in Business Administration from the University of Mary Washington.

Elizabeth Penning

Human Resources Manager

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Elizabeth Penning

Human Resources Manager

Ms. Penning is the Human Resources Manager responsible for employee relations, training and development, staffing and recruitment, compensation and benefits, and compliance for the Penzance team.

Prior to Penzance, Ms. Penning worked for Prince William County Schools as an adult trainer, Lead Mentor, and education professional, facilitating the training, leadership, and growth of teachers throughout the county.

Ms. Penning is a member of The Society for Human Resource Management, an Urban Alliance Mentor and supporter of KIPP DC’s Through College to Career Programs.

Ms. Penning received Bachelor degrees in both Education and Kinesiology from Slippery Rock University.

Ben Astaire

Corporate Accountant

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Ben Astaire

Corporate Accountant

Mr. Astaire is responsible for supporting the Corporate Controller by maintaining the books and necessary for financial reporting for Penzance Corporate entities for use by internal and external stakeholders.

Prior to joining Penzance, Mr. Astaire worked for Essentra plc serving as Senior Accountant for the Pipe Protection Technology division. Based in Richmond, VA, he was responsible for preparing, finalizing and submitting monthly financials, and for financial forecasting as well as for improving controls and procedures. When the division was purchased by National Oilwell Varco he worked on finalizing the sale and transitioning the division to the new parent company. Prior to that he had worked as an Internal Auditor, based out of Essentra's head office in Milton Keynes, England. He conducted financial audits, tested controls and assessed levels of risk to institute improvements and apply best practices.

Mr. Astaire is a member of the Chartered Institute of Management Accountants (CIMA) and a qualified Chartered Global Management Accountant. He attended Durham University in the North-East of England where he received a bachelor’s degree in Economics and Cass Business School in London where he received a master’s degree in Finance.

Richard Brookshire

SVP, Portfolio Management/Debt Capital Markets

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Richard Brookshire

SVP, Portfolio Management/Debt Capital Markets

Mr. Brookshire is the Senior Vice President for Portfolio Management and Debt Capital Markets.

He has over 20 years of real estate experience with office, multifamily, and mixed-use properties in U.S. urban and suburban markets across value-add and opportunistic investment strategies for leading domestic and foreign investors. He has been part of senior leadership teams overseeing more than eight million square feet of assets and professionals covering a broad range of real estate disciplines. His transaction experience includes over $3 billion of acquisitions and development, $4 billion of debt financings, $2 billion of equity capital raises, and $2 billion of recapitalizations/restructurings.

Previously, Mr. Brookshire was a senior principal at Monday Properties where he led investment and portfolio management activities from 2004 to 2015. Before that at Tishman Speyer he held acquisition, finance, disposition, and portfolio management roles. He began his career with Arthur Andersen.

Mr. Brookshire received his BS in Business from Wake Forest University. He is a Chartered Alternative Investment Analyst.

Shelita Brown

Staff Accountant

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Shelita Brown

Staff Accountant

Shelita Brown is responsible for accounts receivable and payable, the annual 1099 process. She also assists Property Controllers with property portfolio accounting.

Ms. Brown previously worked for Aureus Property Management (Weichert Companies) as a Property Management Accountant responsible for coordinating daily accounting operations between property managers and staff.

Ms. Brown graduated in 2005 with a B.S. in Accounting from Southeastern University.

Carl Chidambaram

Financial Analyst

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Carl Chidambaram

Financial Analyst

Mr. Chidambaram is an Analyst responsible for supporting the acquisitions team by underwriting prospective value-add office/multifamily properties and ground-up development deals and assisting with due diligence. Mr. Chidambaram also supports the firm’s asset management team by performing financial analyses for Penzance’s portfolio of existing assets and development projects, as well as for property dispositions, recapitalizations and refinancings.

Mr. Chidambaram was a summer intern in the Penzance class of 2018. Prior to interning at Penzance he interned at the Boynton Financial Group, a financial advisory team for Raymond James.

Mr. Chidambaram was a member of the Vanderbilt Innovation and Entrepreneurship Society as well as the Vanderbilt Club Golf Team.

He received his B.S. in Human and Organizational Development with a minor in Corporate Strategy from Vanderbilt University.

Christopher Fong

Vice President, Development

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Christopher Fong

Vice President, Development

Mr. Fong is responsible for acquiring development opportunities with a focus on multi-family and mixed-use projects.

Prior to joining Penzance, Mr. Fong oversaw acquisitions and development for Hoffman & Associates, where he focused on ground-up, mixed-use developments in the Greater Washington Metro Area. Mr. Fong previously worked for two national publicly traded REITs: Vornado Realty Trust and AvalonBay Communities. During his tenure at Vornado Realty Trust, he worked on multifamily, office, hospitality, and retail developments in Washington, DC and Arlington, VA. At AvalonBay, Mr. Fong worked on the $6.5 billion acquisition of Archstone, focusing on due diligence, valuation, market exposure, and integration.

Mr. Fong is a member of the Leadership Center for Excellence and The DC Real Estate Group.

He received his BBA in Finance from The College of William and Mary.

Josh Bowden

Dev Associate, Development and Construction

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Josh Bowden

Dev Associate, Development and Construction

Mr. Bowden is a Development Associate responsible for the execution of Penzance’s development business plans through underwriting, entitlement, design, construction, leasing and marketing. Mr. Bowden provides supplementary support as a construction manager for Penzance’s existing office asset portfolio and has facilitated the underwriting, design, permitting and construction of 57 tenant and capital improvement projects for approximately 360,000 SF at an estimated cost of $19.5 million.

Mr. Bowden has played a key role in the design, entitlement, permitting, construction management and marketing/branding of The Highlands Redevelopment Project. Mr. Bowden also assisted in the design and entitlement of the 4000 N Fairfax Drive Project, as well as the delivery of the 3001/3003 Washington Boulevard Project.

Mr. Bowden is a member of NAIOP, ULI and the Georgetown Alumni Association.

He received his Bachelors in Science from the University of Rhode Island and his Masters in Real Estate Development from Georgetown University.

Peter N. Greenwald

Senior Advisor

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Peter N. Greenwald

Senior Advisor

Mr. Greenwald is Senior Advisor to the firm’s executive team in government and community relations.

He serves as Chairman of the Rosslyn Business Improvement District in Arlington, VA. Mr. Greenwald served as an Arlington Economic Development Commissioner, as an appointee of the County Board until the expiration of his term in 2018. He is the Chairman and founding member of the Arlington Foundation for Arts and Innovation, an entity established to spearhead creativity and investment in County cultural activities. He has spearheaded the Leadership Council of the Watergate complex. Until the expiration of his term in January 2009, he served on the Executive Committee and Board of the Mount Vernon Triangle Community Improvement District in Washington, DC.

He founded the New York law firm of Greenwald and Strongin, and is a former partner at Rosenman & Colin, now KMZ Rosenman. He was Executive Vice President, General Counsel, and Secretary of Retired Persons Services, Inc.

Mr. Greenwald received his AB and AM from Harvard University and his JD from the New York University School of Law.

Peter Heller

Vice President, Investments

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Peter Heller

Vice President, Investments

As Vice President of Investments Mr. Heller is responsible for supporting acquisition and capital raising activities with a focus on value-add multifamily and ground-up development projects.

Previously, he worked at LaSalle Investment Management, where he focused on the acquisition of office, retail, and industrial assets for the firm’s comingled funds and separate accounts.

Mr. Heller is an active member of the Maryland/DC Chapter of NAIOP and The DC Real Estate Group. He is a leader of Penzance’s community outreach program with KIPP DC, and of the Penzance internship program for college students interested in a career in real estate.

Mr. Heller earned a BA in Economics and History from Denison University.

Patrick Maloney

Vice President, Asset Management

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Patrick Maloney

Vice President, Asset Management

Mr. Maloney is a Vice President of Asset Management at the firm. He is responsible for maximizing the value and performance of Penzance's investments through leasing, capital improvements, and dispositions.His diverse skill set includes financial underwriting, and negotiation of leases and purchase and sale agreements across all major asset categories.

Previously, Mr, Maloney served as a member of the asset management team at Starwood Capital Group where he focused on office and industrial investments and worked on transactions valued at over $3 billion. Prior to Starwood, he held acquisition and asset management roles at ASB Real Estate and Capital Automotive Real Estate Services.

Mr. Maloney has tutored, coached and mentored youth in South Bend, Indiana and the Washington, DC metro area including for organizations such as WINNERS lacrosse and the Arlington Alexandria Coalition for the Homeless.

Mr. Maloney received a BA in Economics from the University of Notre Dame, where he was a member of the nationally-ranked lacrosse team for all four of his college years.

Katie Treamer

Receptionist and Administrative Assistant

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Katie Treamer

Receptionist and Administrative Assistant

Ms. Treamer is Administrative Assistant responsible for supporting Penzance’s corporate office, with special focus on the accounting, development, and human resources departments. She schedules and coordinates meetings, appointments, and travel arrangements for the firm’s leadership team.

Ms. Treamer is a volunteer with the Juvenile Diabetes Research Foundation, and in college was a member of the Sigma Alpha Lambda National Leadership and Honors Organization and a participant in the Duncan Macrae Jr. Mentored Research Assistant Grant.

She received her B.A. in Psychology with a minor in Social and Economic Justice from UNC Chapel Hill.

Dean Neiman

Senior Construction Manager

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Dean Neiman

Senior Construction Manager

Mr. Neiman is the Senior Construction Manager, overseeing construction activities for the portfolio with a focus on tenant and capital projects, asset repositioning and due diligence.  Mr. Neiman has 27 years of real estate experience in design, development, leasing, sales, delivery, management and renovation of commercial assets.
 
Prior to joining Penzance, Mr. Neiman worked for several local real estate brokerages as a commercial sales and leasing agent, in the development department of Vornado Charles E. Smith where he focused on commercial interiors, and for a Pennsylvania-based developer working in the DC Metro area on multi-family development. 
   
Mr. Neiman earned a B.S. in Housing Interior Design and Resource Management at Virginia Tech with a concentration in Property Management.  He is licensed to lease and sell commercial real estate in D.C., Maryland, Virginia and Pennsylvania, is a member of Associated Builders and Contractors, and a candidate for BOMA’s Real Property Administrator designation.

Frank J. Poli

Senior Advisor, Development and Construction

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Frank J. Poli

Senior Advisor, Development and Construction

Mr. Poli is the Principal of Development responsible for leading development, predevelopment, design and planning, construction, budgeting, and oversight of mixed-use, office, and multifamily projects. He has broad experience in site and project evaluation, pro-forma analysis, budget development, purchase negotiations, land use and entitlement approvals, and management of the design and construction process to completion. For development projects, he coordinates delivery and marketing, and leasing through stabilization, with bottom-line project performance responsibility.

Previously, Mr. Poli served as Regional Vice President of Development at Associated Estates Realty Corporation, where he managed development of the company’s multifamily rental apartment communities from start to finish.

Mr. Poli is Chair of the Arlington County Economic Development Commission. He is an Associate with the Urban Land Institute and has served on the Board of Directors for the Arlington Partnership for Affordable Housing since 2007. From 2004–2006 he served on the Board of Directors of the Arlington Chamber of Commerce.

Mr. Poli received a BFA and a BArch from the Rhode Island School of Design and is a LEED Accredited Professional.

Brandon Ripley

Vice President, Construction Management

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Brandon Ripley

Vice President, Construction Management

Mr. Ripley is responsible for spearheading construction management for the firm's ground up development projects, from design coordination and budgeting, through construction and delivery, as well as assisting with entitlement and development-related activities.

Mr. Ripley has over 15 years of experience in the industry and has completed over 2 million square feet of construction, including high-rise mixed use multifamily, Class A commercial office building repositioning, data centers, and secure governmental work.  Prior to joining Penzance, Mr. Ripley worked with John Moriarty & Associates to lead the successful delivery of a Class A, 400 unit, 35 story high-rise mixed-use apartment tower in Tysons Corner, VA. Before that, he worked with Forrester Construction and Clark Construction.

Mr. Ripley serves on the Membership Committee (of which he was Committee Chair) for the Associated Builders and Contractors of Metro-Washington (ABC of DC), and is a member of the Construction and Development Committee of DCBIA.  He earned his BA in Engineering Management from Lafayette College and his MBA from The George Washington University.

Alaina Saligman

Finance Manager

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Alaina Saligman

Finance Manager

Ms. Saligman is responsible for corporate budgeting and forecasting, oversight of financial reporting, fund administration and analysis and redevelopment project accounting.

Previously, Ms. Saligman was an accountant at JBG Smith, both prior to, and through, the merger, and spin off into a publicly traded real estate investment trust. She assisted in transitioning assets into the JBG Smith portfolio and was responsible for financial reporting of residential, commercial and development properties. She has also held roles at The Carlyle Group as a Fund Accountant, and at RubinBrown, an independent member of Baker Tilly International, as an Auditor and Financial Analyst.

Ms. Saligman is a licensed Certified Public Accountant in the State of Missouri and holds two bachelor’s degrees from Southern Illinois University, one in Economics and Finance and a second in Accounting. She has completed Level I and Level II of the Chartered Financial Analyst exam. Ms. Saligman serves as a committee member in the Junior League of Washington, a woman-led organization focusing on children’s welfare and other social issues facing the greater Washington community.

Jack Rushford

Senior Financial Analyst

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Jack Rushford

Senior Financial Analyst

Mr. Rushford is a Senior Analyst responsible for supporting the acquisitions team by underwriting prospective value-add office/multifamily properties and ground-up development deals and assisting with due diligence. Mr. Rushford also supports the firm’s asset management team by performing financial analyses for Penzance’s portfolio of existing assets and development projects, as well as for property dispositions, recapitalizations and refinancings.

Previously, Mr. Rushford worked as an investment sales broker for Marcus & Millichap on their DC/MD/VA multifamily team.

He is active in the Young Real Estate Professionals of DC and NAIOP’s Northern Virginia chapter. In addition, he has coached tennis and mentored young people through Atlanta’s chapter of ACEing Autism.

Mr. Rushford received a BBA from the Goizueta Business School at Emory University, where he concentrated in Real Estate.

Henrik Wranaker

Assistant Director, Property Management

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Henrik Wranaker

Assistant Director, Property Management

Mr. Wranaker is the Assistant Director, Property Management, serving as the liaison between Penzance’s Executive Director, Property Management and the property operations team, with responsibility for implementing and monitoring the consistent application of policies and procedures across the portfolio. He has 15 years of experience in the industry.

Previously, he was a Senior Property Manager at Tishman Speyer where he oversaw a property team of more than 20 managers and engineers and an office portfolio of approximately 2 million square feet of trophy and class A office buildings in the DC Metro area.

Mr. Wranaker is a LEED Green Associate and a member of the Institute of Real Estate Management. He has received a number of awards, including the Akridge 2008 service award for outstanding tenant relations and the 2009 Foundation Award for Employee Excellence.

Shan Wright

Property Controller

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Shan Wright

Property Controller

Ms. Wright is responsible for financial statements and reporting, forecasting and budgeting, and accounting support of the joint venture properties for which she is Portfolio Controller.

Prior to joining Penzance, Ms. Wright served as a Senior Property Accountant for Brookfield Office Properties responsible for financial reporting, audit management and budgeting. She also served as part of the international internal audit team for Brookfield’s Toronto office. Previously she was the treasury analyst for a telecommunications company and worked for several not for profit companies in the following roles payroll accountant, A/R supervisor and Accounting Manager.

She received her bachelor’s degree in accounting from Hampton University.

Gene Mianti

Director, Capital Improvements

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Gene Mianti

Director, Capital Improvements

Mr. Mianti manages mechanical, electrical and plumbing (MEP) projects for the Penzance office portfolio. He has over 40 years of experience in managing commercial buildings.

Previously he served as Vice President, Engineering at Hines, with responsibility for over 4 million square feet of office and retail space in the Mid-Atlantic, overseeing over 30 engineering professionals. He was Chief Engineer of the Metropolitan Museum of Art in New York City from 2009 to 2012. Prior to that he served Vice President, Head of Critical Infrastructure for the America’s at Lehman Brothers Holdings.

Mr. Mianti was a member of BOMA Operating Building of the Year teams in 1986, 1993, 1998, 2005, and holds a New York City Refrigeration License.

Deniz Babaoglu

Senior Associate, Asset Management

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Deniz Babaoglu

Senior Associate, Asset Management

Mr. Babaoglu is responsible for maximizing the value and performance of Penzance’s office portfolio including negotiating leases, and conducting valuations across all major asset categories.

Previously, Mr. Babaoglu was an Asset Manager in the Special Servicing group at CWCapital where he was primarily responsible for the resolution of over $1B of defaulted CMBS loans across the country. Prior to CWCapital, he served as a Market Analyst at CoStar Group where he oversaw three major and seven secondary markets throughout the US.

Mr. Babaoglu received his BS in Economics from Virginia Tech and his MS in Finance from Johns Hopkins University’s Carey Business School.

Kobie Frazier

Urban Alliance Intern

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Kobie Frazier

Urban Alliance Intern

Ms. Frazier is an Urban Alliance Intern at Penzance. She is responsible for a range of administrative duties across the firm, including for the human resources and accounting department.

Ms. Frazier is a senior at Woodrow Wilson Senior High School, in Washington, DC. She is an AP/Honor student participating in Collegebound, a college readiness program. Ms. Frazier graduates from high school in June 2020 and has applied to attend college in fall 2020.

Ms. Frazier has been a delegate representing her school at Mock Model United Nations and International Affairs conferences.