Julia Springer, Victor Tolkan, John Kusturiss
Co-Founders and Managing Partners; Senior Vice President Development, Penzance
Founded in 1996 by husband-and-wife duo Julia Springer and Victor Tolkan, Penzance has grown into one of the better-known real estate owners and operators in the D.C. area.
In the early years, the Penzance portfolio was primarily focused on commercial office (including the Watergate), but in recent years, the company has expanded into multifamily and development as well. Starting in 2013, the company began adding multifamily assets, and now owns close to 2,000 residential units.
In addition to its holdings, Penzance has recently embarked on several mixed-use development projects under the direction of John Kusturiss, the company’s vice president of development.
One of their largest projects to date is The Highlands, a mixed-use development in downtown Rosslyn, Va., that broke ground in 2018.