Penzance announces deal with Cortland to acquire Aubrey in The Highlands

    Luxury properties will join Cortland’s portfolio in Northern Virginia’s Trophy sale

    Rosslyn, Virginia.And May 18 2022 /PRNewswire/- Penzance, Leading owner, operator and developer at Washington DC The metropolitan area for more than two decades, today announced the sale Aubreyone of three luxury multi-family properties in The Highlands development in Roslyn, to Cortland. The property was developed in partnership with The Baupost Group LLC, a BostonTrophy-based investment manager, is the asset of booty in Northern Virginia.

    We are pleased to announce the sale Aubrey for Cortland. Having poured our hearts out over the heights for the past 11 years, it has been so rewarding to see the success of the project,” John Kustoris, head of development and construction at Penzance. “This sale is a true testament to its durability Northern Virginia market, and we are confident that with their impressive portfolio, Cortland will be excellent property agents.”

    Kristen Espanshad And Robert Jarish of Newmark represents ownership in the sale of this asset and noted that “the unit’s high-quality finishes, world-class amenities, and enduring, unobstructed sights make Aubrey An unparalleled asset in the metropolitan area. Local and international investors have been very interested in this investment due to its “once in a generation” appeal. “

    Standing 23 stories tall, Aubrey It comprises 331 generous units ranging from one to three bedrooms. Each unit has stunning city-wide views Roslyn and the capital’s skyline with some apartments featuring carved balconies. All apartments feature chef-style kitchens, state-of-the-art appliances, luxurious finishes, and flexible spaces to suit each resident’s needs.

    Rooftop amenities at Aubrey It includes a penthouse-level pool and sun deck, as well as an indoor craft beer lounge and pool space for gathering with friends. Other amenities suit a wide range of interests, from a gallery kitchen to create memorable meals, a dedicated co-working room for those who keep working from home, a winery-inspired club room for relaxing with friends, and a state-of-the-art fitness center. Aubrey It also features a 24-hour concierge, parking garage, on-site storage and a CVS pharmacy on the ground floor.

    With a wide range of units, amenities and unparalleled location, Aubrey is an unparalleled addition to our portfolio of luxury residences,” Mike AltmanCortland chief investment officer. “No detail has gone unnoticed by Penzance in the development of this project, and we look forward to the elevated level of care and development that residents of this Cortland property have come to expect. Roslyn. “

    The Highlands is a dynamic mixed-use development along the Rosslyn-Ballston Corridor and is home to two other luxury apartment towers, Pierce and Evo, as well as the renovation of Arlington County Fire Station #10, the reimagined 26000 SF Rosslyn Highlands Park. The 1.2 million square feet project is conveniently located in the heart of Roslyn Close to the metro and gives residents direct access to some of the area’s best restaurants, entertainment options and outdoor spaces.

    More details about Aubrey can be found in aubreyrosslyn.com.

    About Penzance
    Penzance is a vertically integrated full-service real estate company with a focus on investment grade asset opportunities in major countries Washington DC metropolitan area. Since its establishment in 1996, Penzance has invested more 3 billion dollars in real estate through partnerships with prominent institutional investors, separate accounts, joint ventures and their discretionary funds. As one of the region’s premier owners, operators and developers of transformative properties, Penzance provides exceptional inland property acquisitions, leasing, development, construction, assets and management.

    About Cortland
    Cortland is a vertically integrated, multi-family real estate investment, development and management company focused on providing residential living experiences that are resident-focused and hospitality-based. Headquartered in AtlantaCortland, Inc. operates and invests, directly or indirectly, in more than 250 residential communities comprising more than 85,000 homes in the United States with regional offices in CharlotteAnd DallasAnd DenverAnd HoustonAnd Orlando And Tampa. Cortland has extensive experience acquiring, developing, renovating, owning and operating multi-family communities, utilizing the services of affiliates managing construction, design, property, assets and investment. Internationally, Cortland maintains a management and development platform in the UK.

    Cortland is the National Multifamily Housing Council (NMHC) of the 50 Best Owners & Managers, Best Performing Brands for Online Reputation in 2021 (Reputation Score by reputation.com)and he Great Place to Work-Certified™ Company (2021). For more information, please visit the website cortland.com.

    SOURCE Penzance