Latest News
Latest NewsPenzance 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.
read more
Long & Foster execs part with brokerage’s longtime Georgetown office for $8.5 million
D.C.-based developer Penzance Cos. has acquired Long & Foster Real Estate Inc.’s longtime Georgetown office building for about $8.5 million but doesn’t plan to displace Greater Washington’s largest residential real estate company from the premises anytime soon.
P. Westley Foster, who is the founder, chairman and CEO of Long & Foster Cos., and George T. Eastment, its vice chairman, sold the roughly 15,000-square-foot building to an affiliate of Penzance in deal recorded with the District on June 1, according to D.C. land records.
read more
Scoop: Penzance Under Contract To Sell Ballston Carpool Site To Jefferson Apartment Group
Penzance is under contract to sell the development site of a 22-story apartment building in Ballston.
Penzance rezoned the site of the Ballston bar for high-rise residential, and now, the DC-based firm expects to close this quarter on the sale of the site to Jefferson Apartment Group, two sources tell Bisnow.
read more