Penzance announces the sale of a second apartment tower in The Highlands, Evo, in agreement with Cortland

Following the sale of its sister property, AubreyEvo will join Cortland’s growing Northern Virginia portfolio

ROSSLYN, Va., July 13, 2022 /PRNewswire/ — Penzance, leading owner, operator and developer in the washington d.c. metropolitan area for more than two decades, today announced the sale of Evo, one of its three luxury multi-family properties in the Highlands development in Rosslyn, in Cortland. The property, developed in partnership with The Baupost Group LLC, a Bostonis the second Penzance property in The Highlands to be sold to Cortland.

“After the successful sale of Aubrey at The Highlands to Cortland in May, we are delighted to announce another sale of our second apartment tower, Evo, to the same team,” said John Kusturiss, director of development and construction of Penzance. “The Highlands Project is very special to our Penzance team after working tirelessly on the project for 11 years, but we are proud to hand over to Cortland to maintain the unique community we have created here in Rosslyn.”

With more than 450 luxury units, Evo offers apartments ranging from studios to three bedrooms with high-end appliances, floor-to-ceiling windows and stunning views of the DC skyline, Arlington, and the Potomac River. The 29-story building features over 30,000 square feet of amenity space, including a rock climbing wall, multi-sport simulator, darts lane, coworking center, private conference rooms, on-site pool the rooftop, outdoor grilling stations, several lush garden terraces with lounge seating, and the fitness center’s water spa. The building’s views and unparalleled location along Wilson Boulevard provide residents and visitors with the best of Northern Virginia living.

“The closing of Evo is the culmination of our investment cycle which began in May with the purchase of Cortland Rosslyn, formerly known as Aubrey. We are creating a seamless, resident-centric and hospitality-driven experience with the combination of these two trophy towers,” said mike altman, Chief Investment Officer at Cortland. “This is just the beginning of Cortland’s investment in the area, driven by our commitment to changing the standard of apartment living.”

The Highlands is a vibrant 1.2 million square foot mixed-use development along the Rosslyn-Ballston corridor and is home to the revitalized Arlington County Fire Station No. 10 and the reimagined 26,000 square foot Rosslyn Highlands Park, plus two other luxury residential towers, pierce and Aubreywhich was recently acquired by Cortland in a trophy Northern Virginia sale.

More details about Evo can be found at evorosslyn.com.

About Penzance

Penzance is a full-service, vertically integrated real estate company focused on quality asset opportunities in the greater washington d.c. Metropolitan area. Since its inception in 1996, Penzance has invested over $3 billion in real estate through partnerships with blue chip institutional investors, separate accounts, joint ventures and its discretionary funds. Penzance, as one of the region’s leading owners, operators and developers of transformative properties, provides exceptional in-house acquisition, leasing, development, construction, asset and property management services.

About Cortland

Cortland is a vertically integrated, multi-family property investment, development and management company focused on providing resident-centric, hospitality-focused apartment living experiences. Based at AtlantaCortland manages and invests in, directly or indirectly, more than 250 apartment communities comprising more than 85,000 homes in the United States with regional offices in Charlotte, dallas, denver, Houston, Orlando and Tampa. Cortland has significant experience in acquiring, developing, renovating, owning and operating multi-family communities, leveraging the services of its affiliated companies to build, design and manage properties, assets and of investments. Internationally, Cortland maintains a management and development platform in the UK.

Cortland is a National Multifamily Housing Council (NMHC) Top 50 Owner and Manager, Top Performing Brand for Online Reputation in 2021 (Reputation Score by reputation.com)and is a Certified Great Place to Work™ Company (2021). For more information, please visit cortland.com.

SOURCE Penzance