Our Firm

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

Since its founding in 1996, Penzance Properties has invested over $3.5 billion in real estate through partnerships with blue-chip institutional investors, separate accounts, joint ventures, and our discretionary fund series Penzance DC Real Estate Fund LP (“Fund l”) and Penzance DC Real Estate Fund ll LP (“Fund ll”).

We are proud of our deep roots in the region and focus our investment efforts on acquisition and development opportunities in multifamily, data center, industrial, and other commercial assets, 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.

The Penzance team enjoying a Washington Spirit game with friends and family.

The Penzance team on a tour of the Capitol in the Fall of 2022.

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 founded Penzance with Victor Tolkan in 1996. Assets under management in partnership with blue chip institutional investors exceed $3.7 billion over the firm’s history.  In 2017, the firm launched Fund I, to invest in value-add and opportunistic strategies, including development projects, across the region.  Fund II was launched in 2020.  She is a member of the Investment, Executive, and ESG Committees.​

Before she founded Penzance, 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 US District Judge Peter Beer (ED, Louisiana).  She was an attorney in the real estate and corporate transactions group at the law firm of Shaw Pittman LLP, now Pillsbury.  She received her JD from the University of Virginia School of Law.​

Ms. Springer has served on the boards of The Field School in Washington, DC, the Children’s Law Center, and the Jordan River Foundation, and as co-chair of the DC Leadership Circle of Women for Women.​

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.  In 1996, he, along with Julia Springer, founded Penzance.  Assets under management in partnership with blue chip institutional investors exceed $3.7 billion over the firm’s history through separate accounts, joint ventures, and its discretionary funds.  He is a member of the Investment and Executive Committees.​

In 2017, the firm launched Fund I to invest in value add and opportunistic strategies, including development projects, across the 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 founding the firm, Mr. Tolkan was responsible for 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 a BA from Tulane University.

David Bushey

Property Manager

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David Bushey

Property Manager

David Bushey is Property Manager for the Reston/Herndon portfolio. He began his career in property management at Penzance in October 2017 as a Tenant Services Coordinator.

Mr. Bushey is currently pursuing his Real Property Administrator (RPA) certification. He received his Master of Business Administration degree from the Raymond A. Mason School of Business at the College of William & Mary in 2016 and his Bachelor of Science degree in Psychology from James Madison University in 2014.

Jeff Tidona

Senior Associate, Portfolio Management

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Jeff Tidona

Senior Associate, Portfolio Management

Mr. Tidona is a Senior Associate on our Portfolio Management team. He is responsible for 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.

Isabel Ahmadiyar

Executive Assistant

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Isabel Ahmadiyar

Executive Assistant

Isabel Ahmadiyar is an Executive Assistant supporting the Development and Asset Management Team.

Prior to joining Penzance, Ms. Ahmadiyar served as Executive Assistant to the Chief Development Officer at Enviva.  

She holds two bachelor’s degrees from Virginia Commonwealth University, one in Political Science and one in Homeland Security and Emergency Preparedness.

Lucian Licata

Fund Controller

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Lucian Licata

Fund Controller

Mr. Licata is Fund Controller responsible for investor reporting and relations, as well as financial planning, analysis, and administration for the Penzance discretionary real estate funds.

Prior to joining Penzance, Mr. Licata served as a Real Estate Finance Manager, Fund Controller, and Valuation Manager for JP Morgan Asset Management in Los Angeles and New York. He was responsible for financial management and reporting on assets from acquisition through disposition. He worked on formation and assumed responsibility for reporting and daily operation of separate account investments and closed-end funds. As a Valuation Manager, he reviewed quarterly valuations of multifamily, office, and industrial assets, secured loans and assisted with technological initiatives to capture key performance metrics.  

Before JP Morgan, was a Public REIT Controller at Colony Capital and an audit and advisory manager at PricewaterhouseCoopers, LLP in the consumer lending space. Mr. Licata is a licensed Certified Public Accountant in New York. He attended SUNY Binghamton where he received his bachelor’s degree in accounting.

Buji Tallapragada

Senior Vice President, Asset Management

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Buji Tallapragada

Senior Vice President, Asset Management

Buji Tallapragada is Senior Vice President, Asset Management with responsibility for a portfolio of Penzance investment properties.  Buji has over 20 years of real estate experience covering a wide range of operating assets, including office and multifamily product. Prior to joining Penzance, he was Senior Vice President of Commercial Asset Management at JBG and most recently head of asset management at Dweck Properties.  Buji earned his BS from New York University and MBA from the University of Southern California.

John Zvonek

Analyst

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John Zvonek

Analyst

John Zvonek focuses on analysis of new investment opportunities as well as the development and asset management of existing investments.

Mr. Zvonek was an intern at Penzance during the summer of 2022, aiding the investment team with deal analysis and market research.

Mr. Zvonek received his BA with honors in Philosophy, Politics, and Economics from the University of Pennsylvania. 

Valerie Micek

Vice President, Multifamily Investments and Asset Management

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Valerie Micek

Vice President, Multifamily Investments and Asset Management

Ms. Micek is Vice President, Multifamily Investments and Asset Management. Her primary areas of focus are sourcing multifamily acquisitions and asset managing the firm’s multifamily portfolio.

Previously, she sourced acquisitions and led asset management for Equity Residential’s metropolitan Washington, D.C. portfolio of approximately 15,000 units across 47 properties.  While at Equity Residential she assisted with the acquisition of four assets with a combined value in excess of $300 million dollars.  She began her career at PGIM Real Estate, where she underwrote and closed approximately $750 million of commercial real estate mortgages across office, multifamily, retail, industrial, and self-storage properties for General Account, CMBS, and Agency platforms.

Ms. Micek is an active participant in ULI Washington and served on the National Landing BID’s Transportation Committee. She earned her Bachelor of Business Administration in Finance and Real Estate from Emory University.

Mark Zavertnik

Investments Analyst

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Mark Zavertnik

Investments Analyst

Mark Zavertnik is an analyst focused on new investment opportunities and the development and asset management of existing investments.

Prior to joining Penzance, he was a Summer Associate at Polen Capital where he did research on investment opportunities and equity portfolio trades. 

Mr. Zavertnik received his BS in Finance from the Wake Forest University School of Business in May 2022.

Cris White

Managing Director, Investments

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Cris White

Managing Director, Investments

Mr. White is Managing Director for Investments at the firm.  He has professional experience in commercial real estate, finance, and consulting in Washington, DC and New York.  He is a member of the Investment and Executive  Committees.​

His primary focus is on new investment opportunities for the Penzance Real Estate Funds as well as oversight of strategic initiatives on Penzance’s existing assets.​

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 US, 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 AB in Politics and Certificate of Political Economy.

Neil Duncan

Senior Vice President, Investments

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Neil Duncan

Senior Vice President, Investments

Neil Duncan is a Senior Vice President in the Investments Group where he primarily focuses on multifamily development acquisitions. Prior to joining Penzance, Mr. Duncan was on the Investments team at JBG where he focused on mixed-use multifamily acquisitions and investment management of several development projects.

He earned his BS in Finance from the University of Denver and his MBA from Columbia Business School.  From 2002 to 2007, Mr. Duncan served in the US Army, 173rd Airborne Brigade, as a paratrooper and Fire Team Leader with tours of combat duty in Europe, Iraq and Afghanistan.

Sophia Griffin

Office Manager

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Sophia Griffin

Office Manager

Ms. Griffin manages Penzance’s corporate office and provides administrative support.  

Ms. Griffin comes to Penzance with a background in operations at a residential real estate brokerage in Rosslyn, Virginia. As a 2020 graduate of George Mason University, she earned her BS while interning with a nonprofit housing organization in Prince William County.

Michael Lefkowitz

General Counsel

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Michael Lefkowitz

General Counsel

Mr. Lefkowitz is 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.  He is a member of the Investment Committee and ESG Governance Subcommittee.  ​

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.

Lauren Kowall

Senior Vice President, Investments

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Lauren Kowall

Senior Vice President, Investments

Ms. Kowall as Senior Vice President, Investments focuses on acquisitions, sourcing development, value-add and stabilized product types, including industrial, residential, and commercial 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 the DC Real Estate Group.

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

John E. Kusturiss III

Chief Development and Construction Officer

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John E. Kusturiss III

Chief Development and Construction Officer

Mr. Kusturiss is Chief Development and Construction Officer.  He oversees development and construction activities for the firm including ground-up and base building development.  Mr. Kusturiss has been responsible for the due diligence, acquisition entitlement, and design of over 3.5 million square feet of new product and has led the construction management and leasing efforts for over 2.3 million square feet of new product.  He is a member of the Investment, Executive, Culture, and ESG Committees.

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 region.

Mr. Kusturiss serves on the Board of Directors of NAIOP and as the co-chair of the Arlington County Government subcommittee.  He is a 2016 Leadership Center for Excellence 40 Under 40 Honoree.

Mr. Kusturiss received his BS in Engineering Technology from the University of Delaware and earned an MBA from the George Washington University.

Noah Carter

Chief Financial Officer

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Noah Carter

Chief Financial Officer

As CFO, Mr. Carter oversees all financial management functions, including accounting, reporting, fund administration, treasury, and human resources.  He is a member of the Investment Committee and ESG Governance Subcommittee.​

Prior to joining Penzance, Mr. Carter served as the Chief Accounting Officer and Treasurer for Watermark Lodging Trust, a REIT that invested in luxury and upscale hotels and resorts throughout the US.  He helped lead Watermark Lodging Trust through the merger of two REITs in order to complete the transition from W. P. Carey, the previous advisor to the two REITs, of which Mr. Carter also served as Chief Accounting Officer.  Prior to joining W. P. Carey, he had been the controller at Hospitality Investors Trust and Global Net Lease and a senior manager in Ernst & Young’s real estate assurance group in New York, having worked in its London and Vancouver offices. ​

Mr. Carter received a BComm in Accounting from the University of British Columbia and is a licensed Certified Public Accountant in New York and a member of the Chartered Professional Accountants of Canada (CPA, CA).​

Jaclyn Easton

HR Manager

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Jaclyn Easton

HR Manager

Jaclyn Easton is the HR Manager at Penzance. She is responsible for managing Human Resources for the company, fostering a positive and productive culture representative of Penzance’s values.

Prior to joining Penzance, Jaclyn was the Director of People and Culture at Eastport Analytics, a data analytics group based in the DC region. At Eastport she supported recruitment, professional development, employee engagement and HR administration. She began her career in HR after transitioning from advocacy and social work.

Ms. Easton received her MSW and BA in Social Work from The Catholic University of America.

Natalie Wisniewski

Property Accounting Manager

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Natalie Wisniewski

Property Accounting Manager

Ms. Wisniewski is a Property Accounting Manager for Penzance’s multi-family assets.  

Prior to joining Penzance, Ms. Wisniewski served as a Senior Property Accountant for Quadrangle Development Corporation in Washington, D.C., where she was responsible for accounting for two major commercial properties including journal entries, account reconciliations, financial statement preparation, variance analysis, budgeting and forecasting. 

Ms. Wisniewski is a licensed CPA in Maryland. She earned her BS and Master's in accounting from Niagara University.

Scott White

Director, Engineering

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Scott White

Director, Engineering

Scott oversees engineering for Penzance, with over 26 years of experience in the industry.  His team includes multiple engineering professionals who manage the day-to-day operations and assist with construction and capital improvements for the portfolio.

Previously, he was Manager of Engineering at First Potomac Realty Trust where he oversaw 22 engineering professionals and operations for over 5 million square feet of office in the Maryland, Virginia, and DC region.

He holds a DC 3rd Class Engineering license and has been recognized with First Potomac Realty Trust’s building of the year award, as well as a TOBY award through AOBA.

Mr. White received a certificate of completion for his engineering training from the apprenticeship program of the International Union for Operating Engineers in 2001.

Jacqueline Jawitz

Company Controller & Director of ESG

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Jacqueline Jawitz

Company Controller & Director of ESG

Ms. Jawitz is the Company 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.

Rickey Williams, Jr.

Senior Property Manager, Washington, DC Portfolio

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Rickey Williams, Jr.

Senior Property Manager, Washington, DC Portfolio

Rickey began working in the property management field in 2008.  In 2017, he joined Penzance where he now serves as Senior Property Manager, overseeing the Washington, DC portfolio.  He has earned his Project Management Professional (PMP) designation and is currently working to obtain his Real Property Administrator (RPA) certification.  Originally from Queens, New York, Rickey moved to Washington, DC to attend The George Washington University from which he received a Bachelor’s degree in Economics and Political Science. 

Xander Aguirre

Staff Accountant

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Xander Aguirre

Staff Accountant

Xander Aguirre is a Staff Accountant at Penzance. Prior to joining Penzance he was a property accountant with Paradigm Management. He worked in Fund and Operational Accounting as an intern in the Financial Services Department at Bell Partners . 

Xander’s Bachelor of Science degree in Finance will be awarded in Spring, 2023 by George Mason University where he has been on the Dean’s List. He received his Arts Associate degree in International Studies from Northern Virginia Community College in 2018. 

Leah Amato

Executive Director, Property Management

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Leah Amato

Executive Director, Property Management

Management for Penzance office and industrial properties with more than 30 years of experience in the industry. Her team includes 17 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.

Joshua Hunter

Senior Corporate Accountant

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Joshua Hunter

Senior Corporate Accountant

Prior to joining Penzance as corporate accountant, Mr. Hunter was a Tax Associate for RSM US LLP in Gaithersburg, MD, where he served as a preparer of tax returns for, and as a consultant to, corporations and individuals, assisting companies with changes to filing account methods.  He also calculated research and development credits for software development and manufacturing companies.

Mr. Hunter earned a BSBA from Bucknell University.

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.

Latreya Monteiro

Property Manager

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Latreya Monteiro

Property Manager

As Property Manager, Latreya Moneiro, manages the day-to-day operations and capital improvements for the Penzance office portfolio in Arlington, VA. She has more than 15 years of experience in the industry.

Previously, she was an Assistant Property Manager at Cushman and Wakefield where she assisted in the management of  500K sf of office, retail, and mixed use property in Towson, MD.

She is pursuing her RPA Certification.

Richard Brookshire

Managing Director, Capital Markets & Portfolio Management

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Richard Brookshire

Managing Director, Capital Markets & Portfolio Management

Mr. Brookshire is Managing Director for Capital Markets and Portfolio Management.  His primary focuses are portfolio management and investor relations for the Penzance Real Estate Funds.  He also oversees financing activities for the firm.  He is a member of the Investment Committee and ESG Governance Subcommittee.​

Mr. Brookshire has real estate experience with multifamily, industrial, office, and other commercial properties in US 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 8.0 million square feet of assets and professionals responsible a broad range of real estate disciplines.  His transaction experience includes over $3 billion of acquisitions and development, $5 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 a BS in Business from Wake Forest University.  He is a Chartered Alternative Investment Analyst.​

Shelita Brown

Corporate Accountant

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Shelita Brown

Corporate 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.

Josh Bowden

Vice President of Development

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Josh Bowden

Vice President of Development

Mr. Bowden is the Vice President of Development 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, community, and media relations.  He is a member of the Investment and ESG Committees.​

He served as Chairman of the Rosslyn Business Improvement District in Arlington, VA for more than a decade and is now Chairman Emeritus and a member of the executive committee.  Mr. Greenwald also served as an Arlington Economic Development Commissioner, as an appointee of the County Board, until the expiration of his term in 2018.  He is 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.

Sanam Escobar

Senior Property Accountant

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Sanam Escobar

Senior Property Accountant

Ms. Escobar is a Senior Property Accountant working on the following assets: 1101 Connecticut, 1500 Wilson, 555 Herndon, 4001 N Fairfax, Courthouse Place, 1893 Preston White Drive, Stone Pointe and Pointe at New Town.

Prior to joining Penzance, Ms. Escobar was a Property Accountant for Davis Property Management LLC.  She was responsible for properties held by both private and institutional clients and handled most aspects of accounting including financial statement preparation, general ledger, variance analysis, CAM reconciliations, and budgeting and forecasting. 

Ms. Escobar received her Bachelor’s degree in Business Administration with a minor in Accounting from California State University, Fullerton.   She received her Master’s in Business Administration from George Washington University as well as a Graduate Certificate in Accounting and Financial Management.  She is also member of the Beta Sigma Gama honors society. 

Brandon Ripley

Senior Vice President, Construction

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Brandon Ripley

Senior Vice President, Construction

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 17 years of experience in the industry and has completed over 3.7 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 Board of Directors for the Associated Builders and Contractors of Metro-Washington (ABC of Metro DC) and is Vice-Chair of their Membership Committee. He is also 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.

Jack Rushford

Development Associate

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Jack Rushford

Development Associate

Mr. Rushford is a Development Associate focused on mixed-use, residential and office development projects from inception through completion.

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

He is active in the ULI Mentorship Program 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.

Connie Davis

Property Controller

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Connie Davis

Property Controller

Ms. Davis is responsible for several properties in the firm’s portfolio.

Prior to joining Penzance, Ms. Davis served as an Assistant Controller at NGPV Management Company responsible for a portfolio of properties including retail, office and GSA leased assets.  Before that, she was Assistant Vice President of Accounting at Polinger Company, where she oversaw a portfolio of eighteen commercial properties totaling over 2.5 million square feet.  Ms. Davis has over 13 years of accounting experience managing more than 5 million square feet of commercial real estate properties.

Ms. Davis holds a Bachelor of Science degree in Accounting from George Mason University and is a member of Beta Alpha Psi, an honorary organization for accounting, finance and information systems majors.

Deniz Babaoglu

Vice President, Asset Management

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Deniz Babaoglu

Vice President, 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.

Heather Rosenblum

Senior Associate, Investments

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Heather Rosenblum

Senior Associate, Investments

Ms. Rosenblum is a Senior Associate on the Investments team. She is responsible for underwriting prospective acquisitions and ground-up developments, and assisting with due diligence. Ms. Rosenblum also supports the firm’s asset management team by performing financial analysis for Penzance’s existing portfolio as well as for dispositions, recapitalizations, and refinancings.

Previously, Ms. Rosenblum worked in Capital Markets at Jones Lang LaSalle (formerly HFF), as a member of the office investment advisory and equity placement team. She underwrote mixed-use assets in the DC Metro region and played an integral role in the marketing, due diligence, and closing processes.

She is actively involved in Urban Land Institute in DC, the Center for Real Estate and Urban Analysis, and the George Washington’s Real Estate and Finance Alliance.

Ms. Rosenblum received her BS in Finance and Spanish from the George Washington University, from which she graduated Summa Cum Laude.

Peter Titus

Assistant Vice President, Construction

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Peter Titus

Assistant Vice President, Construction

Mr. Titus is an Assistant Vice President, Construction overseeing all aspects of new construction work, including managing the contractor and design teams. He is currently focused on The Highlands project, a three tower, 27-story high-rise mixed-use multifamily project in Rosslyn, VA.

Mr. Titus has over 14 years of experience in the industry and has been involved in a wide range of projects, including high-rise mixed use multifamily, performing arts centers, science research facilities, sports arenas, and hospitals. He’s well versed in budgeting, cost control, contract development, procurement, design management, and construction management.

Prior to joining Penzance, Mr. Titus was a Senior Project Manager for Colliers Project Leaders in New York City, where he successfully led project teams on a 42 story mixed-use building and a 65 story luxury condominium building. Before that, he worked for Turner Construction Company and Eastern Millwork on several high profile, complex projects including Lincoln Center Redevelopment, Madison Square Garden Transformation, and St. Mary’s Hospital for Children.

Mr. Titus earned his BS in Mechanical Engineering from Rensselaer Polytechnic Institute and his MBA from The New York University Leonard N. Stern School of Business.

Jordan Steck

Associate, Investments

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Jordan Steck

Associate, Investments

Mr. Steck is an Associate on the Penzance Investments team.  He is responsible for underwriting prospective value-add and ground-up development opportunities as well as supporting the Asset Management team in the financial analysis of Penzance’s existing portfolio in the DC metro region.

Previously, Mr. Steck worked in the Asset Management division of Macerich, a publicly traded Real Estate Investment Trust (REIT), in Tysons Corner, VA.  He focused on underwriting development opportunities across various asset classes and supported the successful repositioning of the REIT’s 13 Million SF regional shopping center portfolio in the Mid-Atlantic and Northeast regions.  He was also directly involved in the successful management of various credit facilities including refinancing activities and CMBS maturity extensions.  Prior to Macerich, he worked for Continental Realty Corporation in Baltimore, MD supporting the Multifamily division in due diligence, market analysis and lease-up management for Class A and value-add assets.

Mr. Steck received a Master’s in Real Estate Finance from Georgetown University and a Bachelor of Science in Cell and Molecular Biology from Towson University.

Hunter Mezzetti

Corporate Accounting Manager

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Hunter Mezzetti

Corporate Accounting Manager

Mr. Mezzetti is responsible for maintaining the financial records of Penzance corporate units to aid in reporting to internal and external stakeholders.

Prior to joining Penzance, Mr. Mezzetti served as an auditor for Deloitte & Touche, LLP in McLean, VA, where he 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.

Mr. Mezzetti is a licensed Certified Public Accountant in Virginia. He earned his BS in Accounting and Spanish from the University of Richmond, from which he graduated Magna Cum Laude.

Keenan Villareal

Executive Assistant

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Keenan Villareal

Executive Assistant

Keenan Villareal is an Executive Assistant supporting the Managing Director of Investments and the Investment Team.

Prior to joining Penzance, he was an Administrative Assistant at The Boston Consulting Group (BCG) supporting Global Management Project Leaders, Principals, Associate Directors and Partners.

Mr. Villareal received his BS in Mass Communications – Advertising and Public Relations from Towson University in Spring 2020, where he also interned at The Cybersecurity Association of Maryland. 

Faizan Qureshi

Vice President, Development

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Faizan Qureshi

Vice President, Development

Faizan Qureshi is a Vice President in the Development group focused on project planning, design and entitlement.

Prior to joining Penzance, Mr. Qureshi was on the Development team at JBG SMITH, where he most recently was involved in entitling 1,600 new residential units at the RiverHouse complex in Pentagon City. Previously, he was with Cushman & Wakefield serving as Fannie Mae’s owner’s representative for the buildout of their headquarters at Midtown Center. Mr. Qureshi started his career with Clark Construction, delivering multiple commercial office, industrial, and civil projects in the region.

Garth Holden

Senior Analyst, Investments

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Garth Holden

Senior Analyst, Investments

Mr. Holden is a senior analyst focused on new investment opportunities and the development and asset management of existing investments.

Prior to joining Penzance, he was an analyst at Brydell Partners, a London based private real estate investment firm, where he played an active role in the acquisition and management of a $600m portfolio spanning life science, industrial and multifamily sectors.

Mr. Holden received an MPhil in Real Estate Finance from Cambridge University and a BA in Political Science from Yale University.

Amin BouHabib

Tax Manager

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Amin BouHabib

Tax Manager

Mr. BouHabib is the Tax Manager responsible for reviewing tax returns, tax compliance, tax planning, and coordinating with tax preparers.

Prior to joining Penzance, Mr. BouHabib served as a Tax Manager for Cherry Bekaert LLP in Rockville, Maryland. He reviewed and prepared business and personal tax filings, including for real estate groups, and provided tax planning services with respect to acquisitions and sales. 

Mr. BouHabib is a licensed Certified Public Accountant in Virginia and an active member of the American Institute of Certified Public Accountants (AICPA). He received his master’s degree in accounting from American University and his bachelor’s degree in hospitality management from Johnson & Wales University.

Fund II is ranked in the Top 5% by Cambridge Associates and has also earned top ranking by other benchmarking services.

The Highlands was the second largest multifamily property sale in 2022.

HC-81 was the Top 100 largest industrial property sale in 2022.

Pointe at New Town, a multifamily asset owned by Penzance and managed by Greystar, won Greystar’s 2022 Mid-Atlantic Community of the Year due to metrics such as average occupancy, tenant retention, reputation, and rent growth.

Penzance was the recipient of five awards at NAIOP’s 2022 Focus on Excellence event including Best Multifamily, Best Marketing, Best Transaction,  Best Mixed Use, and Best Amenity. Click here to read more.

In November 2022, The Pierce at the Highlands received Delta Associates’ award for Best Overall Washington/Baltimore Condominium Community of 2022. The Evo won Best Northern Virginia High-Rise Apartment Community.

NAIOP, the commercial real estate development association, recognized 50 F’s leasing performance and its Washington, D.C. / Maryland chapter awarded the property with “Best Real Estate Transaction, Tenant Lease Under 20,000 Square Feet Pre-Built Suite Leasing” in October 2022.

Also in October, The Pierce won Best Print Advertising – Individual Ad, Associate from the Northern Virginia Building Association. (Click to view the ad)

In July 2022, the Highlands received the U.S. Green Building Council’s award for Innovative Residential Project of the Year.

In March 2022, the Highlands achieved LEED Gold certification for the entire 1.2 million square feet of the residential project; the Aubrey and Evo are among the first LEED Gold multi-family buildings in the region.

In February 2022, The Aubrey at the Highlands achieved LEED Gold Certification under the United States Green Building Council’s standards and has also been recognized as the first LEED Gold Certified multifamily project in the region under the new LEED V4 requirements.

In January 2022, STUDIOS Architecture received a DESIGNArlington Merit Award for the Aubrey at the Highlands. This award, like the Delta Associates award for the Aubrey in 2021, recognizes excellence in architecture, landscape design, and public art showcasing the best of the region.

In October 2021, the Aubrey at The Highlands received Delta Associates’ award for the  Best Northern Virginia High-Rise Apartment Community. In 2021, Penzance was honored by NAIOP Northern Virginia when it chose to feature The Highlands project in Arlington, VA for its Development 101 Case Study Project. In 2019, The Highlands Project in Arlington, VA was honored by NAIOP with the Master Planned Project of the Year award, and in 2015, Penzance was honored by NAIOP Northern Virginia when it chose to feature the 3001/3003 Washington Blvd. project in Arlington, VA for its Development 101 Case Study Project.

Several Penzance properties have recently been awarded the Kingsley Excellence Award for buildings that outperform the Kingsley Index industry benchmark for overall tenant satisfaction. In 2021 two of our properties received the award:  Marker 20 in Herndon, VA and 50 F Street, NW, in Washington DC.  In 2020, 4001 N. Fairfax Drive located in Arlington, VA, received the award, as did 1500 Wilson Blvd., also in Arlington and 1101 Connecticut Avenue, Washington, D.C, properties we managed at the time. In 2019, our property at 2000 14th North Street, in Arlington, VA received the award.

In May 2022, Peter N. Greenwald received the first annual Pinnacle Award from the Rosslyn Business Improvement District. The award recognizes his longstanding service and dedication to the Rosslyn community.

The Leadership Center for Excellence recognized John Kusturiss, III as a 40 under 40 Honoree in 2017.

In 2020, John E. Kusturiss, III was honored as the NAIOP NOVA Member of the year.

Cris White received the 40 Under 40 Rising Stars in Real Estate by DCA Live in 2017.

Penzance Memberships

Penzance is a member of the Apartment & Office Building Association of Metropolitan Washington, the local chapter for BOMI International.

Property Management team members (6) are candidates for the RPA through AOBA.

Penzance is a member of the Georgetown BID, Golden Triangle BID, Rosslyn BID, and Ballston BID.

Given their long-term and active presence in the DC Metro Area, the Executive Team members participate on many local boards.  Senior professionals currently lead or participate with the following organizations: The Real Estate Roundtable, NAIOP / Commercial Real Estate Development Association, Urban Land Institute, DC Real Estate Group, Rosslyn Business Improvement District, Arlington Foundation for Arts and Innovation, Arlington Partnership for Affordable Housing, and the Virginia and District of Columbia Bar Associations.

Team Memberships

Peter N. Greenwald has chaired the Rosslyn (Arlington, VA) Business Improvement Corporation since 2011, and has been a member of its board of directors and executive committee since 2006.  He served for two terms as a member of the Arlington Economic Development Commission, a County Board appointment.

John Kusturiss, III is a member of NAIOP and serves on the Board of Directors and Co-Chairs the Arlington Government subcommittee.  He also serves on the Rosslyn BID Urban Design Committee.

Lauren Kowall is a member of Real Estate Group and is slated to join CREW (Commercial Real Estate Women) in 2021.

Brandon Ripley is the Chair of the Membership Committee of the Associated Builders and Contractors (ABC) and serves on the Construction and Development Committee of DCBIA. Both organizations provide companywide membership status.

Cris White is on the Montgomery College Foundation Board of Directors, Real Estate Committee.

Jeb Boland is on the board of NAIOP DC/MD and chairs the membership committee.  He is also a member of CREBA and NAIOP VA.

Dean Neiman is a member of the Project Management Institute.

Deniz Babaoglu is a member of ULI.

Jeff Tidona is a member of the ULI Young Leaders Group.

Heather Rosenblum is a member of the ULI Young Leaders Group.

Jordan Steck is a member of the ULI Young Leaders Group.

Peter Titus is slated to join the ACE Mentor Program of America (Architecture, Construction, Engineering), he is slated to join Q1, 2021.

Richard Brookshire is a Chartered Alternative Investment Analyst (CAIA), a professional designation granted by the Chartered Alternative Investment Analyst Association, founded by The Alternative Investment Management Association (AIMA) and The Center for International Securities and Derivatives Markets (CISDM).

Rickey Williams holds a Project Management Professional (PMP) certification.

Jackie Jawitz is an active member of the American Institute of Certified Public Accountants and a Certified Public Accountant licensed in New York.