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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.
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Washington’s Top Condominium Award for 2022
Delta Associates Salutes Property as Top in Region
The luxurious Pierce condominium took home top honors from Delta Associates as the prime property in its residential class for 2022. Pierce’s popularity continues to dominate the regional condominium market, selling residences above $1,000 a square foot.
“We are thrilled to win this honor as it recognizes the prestige and prominence of Pierce as a beautiful new addition to the Virginia skyline,” said John Kusturiss, Senior Vice President of Development at Pierce Highlands, LLC. “Pierce was designed to appeal to a sophisticated clientele that values an understated but classic style of living. The continuing strength of our […] read more
Penzance acquired a Chantilly parcel cleared for an auto dealership. It’s shifting gears to build data centers.
A D.C.-based real estate investment firm is shifting gears with one of its properties in Chantilly, dropping previous plans to build an auto sales facility and instead seeking a rezoning to build data centers.
In August, an affiliate of Penzance Management LLC acquired a large, vacant parcel adjacent to an auto dealership cluster, about a mile south of Dulles International Airport, for $10 million. While much of it sits in a floodplain, about 12 acres of the lot are developable, adjacent to Ourisman Chantilly Toyota at 4135 Auto Park Circle. Fairfax County rezoned that part […] read more
Atlanta firm buys two Arlington residential towers, expects return to ‘core markets’
Cortland, a big Atlanta-based real estate firm, closed on two big multifamily acquisitions in Arlington Tuesday, completing the first phase of its plans to invest $1 billion in local real estate.
The company is seeing “return migration to core markets” such as the D.C. area and “this demand shift is expected to continue over the coming years, enhancing our outlook for multifamily communities in the region,” Dan Irvin, a regional director of investments with Cortland, told the Washington Business Journal.
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Fire Station 10 Officially Opens To Serve The Rosslyn Community
Arlington County officials celebrate opening of new fire station serving Rosslyn and the public-private partnership that made it possible.
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