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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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D.C. firm starts work on giant Hagerstown warehouse
Hagerstown’s fast-growing e-commerce landscape is poised to take off again. Washington, D.C.-based Penzance broke ground Thursday on a spec 825,000-square-foot, Class A warehouse facility that will sit just off Interstates 81 and 70 in Williamsport. The firm acquired the 70-acre site earlier this year for $8 million.
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Penzance Breaks Ground at Class-A Industrial Development, Hagerstown Crossroads at I-81
Penzance, an owner, operator and developer in the Washington, D.C. metropolitan region for more than two decades, today broke ground on their latest industrial development, a 825,000-square-foot site located at 16220 Wright Road in Williamsport, Maryland. Penzance executives were joined by community members and local business leaders as the company marked the groundbreaking milestone on its latest project that will create approximately 500 jobs in the region.
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Arlington Firefighters Move Into New Fire Station 10 in Rosslyn
Construction on the three towers of The Highlands, which started in October 2018, is wrapping up. The fire station appears to have finished earlier than developer Penzance anticipated. A spokeswoman previously told ARLnow the station would be ready in the fall, along with a new apartment tower and condo tower.
Passersby can see a 35-foot tall sculpture of a bronze nozzle with twisting spirals of stainless steel, representing water. At night, light illuminates the stainless spirals. The art installation, a tribute to firefighters, marks the first time public art has adorned a fire station.
Baltimore artists David and Eli Hess were commissioned for the art, which […] read more
As Interest in Luxury DC Apartments Soars, Developers Are Competing to Offer the Most Extravagant Amenities Possible
This development in Rosslyn consists of three separate residence towers: two apartment buildings, Aubrey and Evo, and the condominium tower Pierce. While Aubrey and Pierce are currently open, Evo is expected to be ready for move-ins next month. One-bedrooms at Pierce are on the market in the $900,00 range, while one-bedrooms at Aubrey and Evo start around $2,300 a month.
Aubrey has many of the amenities one would expect at a luxury apartment—a rooftop pool, an exhibition kitchen, a coworking area, a high-end gym—and Pierce has a two-story fitness center. But Evo’s amenities are especially bougie. Think a 65-foot-long rooftop pool […] read more