The real estate fund manager Penzance announced its $200 million acquisition of four multifamily properties during the fourth quarter of 2025 that totals 1,100 units over 1.2 million square feet.
The properties include the 318-unit Presley Oaks in Charlotte, North Carolina; the 396-unit Compass at City Center in Newport News, Virginia; the 268-unit Nexus Luxury Apartments and Retail in Virginia Beach, Virginia; and the planned 109-unit build-to-rent townhome development Arden Ridge in Asheville, North Carolina.
The Washington, DC-based Penzance plans to make new investments across the Mid-Atlantic, from New Jersey to South Carolina, during 2026.
“These acquisitions highlight the attractive opportunities we are seeing in residential projects with solid fundamentals and represent meaningful growth opportunities in target markets, across Virginia and the Carolinas,” said Jacob Rosenberg, senior vice president of investments at Penzance. “A portfolio of well-located assets with attractive yields, complemented by strategic development, allows us to deliver strong risk-adjusted returns for our fund investors. We are grateful to the advisors, partners, and brokerage teams who helped us close these transactions expeditiously, adding meaningful scale for Penzance while meeting sellers’ and partners’ individual needs.”
Photo: Presley Oaks in Charlotte, North Carolina
