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Penzance snags 1,100 units in Virginia, North Carolina

Penzance bought four apartment properties totaling 1,100 units in Virginia and North Carolina, significantly expanding its footprint across the region, the Washington, D.C.-based owner, operator, developer and investor announced in a Jan. 15 press release shared with Multifamily Dive. The firm made the purchases, totaling $200 million, in the fourth quarter of 2025.

Mack Real Estate Provides $380M Construction Loan for Virginia Mixed-Use Project

penzancesite2019-08-14T21:01:56+00:00September 5th, 2018|Cathy Cunningham|Commercial Observer|

Washington, D.C.-based developer Penzance has landed a $379.5 million construction loan from Mack Real Estate Credit Strategies for West Rosslyn—its 1.2-million-square-foot mixed-use development in Rosslyn, Va., Commercial Observer has learned.

Penzance Gets Financing, Begins Work On 900-Unit West Rosslyn Development

PZRE2019-11-26T00:49:57+00:00August 30th, 2018|Jon Banister|Bisnow|

A new development is moving forward that will add nearly 900 multifamily units to western Rosslyn.

Penzance has secured a $290M loan and begun site work on its 1555 Wilson Blvd. project that will include apartments, condos, retail and a new fire station, the Washington Business Journal reports.

The developer received Arlington County approval for the project in February 2017.

How Penzance’s West Rosslyn Development Will Transform A Key Section Of The R-B Corridor

PZRE2019-11-26T00:49:57+00:00December 5th, 2017|Jon Banister|Bisnow|

In the next six months, Penzance will break ground on a development that will bring three 240-foot-plus towers, 900 residential units and other amenities to western Rosslyn, part of a plan that will have a dramatic impact on the neighborhood’s transformation.

The developer received county approval in February to move forward with the project. Penzance is currently building a temporary fire station for Arlington County to move it from the development site.

Penzance, Greenfield Sell Watergate Retail Space For $15M

PZRE2019-11-26T00:49:57+00:00November 15th, 2017|Jon Banister|Bisnow|

A retired Northern Virginia doctor is now the owner of a piece of the Watergate complex.

Penzance and Greenfield Partners sold the retail portion of the complex, three levels of shops and restaurants totaling 57K SF, to the doctor, who declined to be named.

The deal closed for $15.4M, according to a document filed Wednesday in the D.C. Recorder of Deeds. The document lists the buyer as Watergate Partners LLC, an entity registered to the address of a MedStar urgent care center in McLean, 6858 Old Dominion Drive.