**Penzance Expands Multifamily Portfolio with $200M in Acquisitions**
Penzance, a real estate investment company, has acquired approximately $200 million in multifamily and residential assets during the fourth quarter of 2025, significantly growing its presence across Virginia and the Carolinas. The acquisitions encompass a total of 1,100 residential units and more than 1.2 million square feet.
The newly acquired portfolio includes stabilized communities purchased below replacement value, along with a build-to-rent development. Capital was deployed across a range of risk-adjusted strategies, aligning with Penzance’s investment approach.
“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.
Properties in the acquisition include:
– A 318-unit multifamily community in North Charlotte, NC
– A 396-unit garden-style multifamily community in Newport News, VA
– A 268-unit mixed-use multifamily and retail community in Virginia Beach, VA
– A 109-unit build-to-rent townhome development on a 10-acre site near Asheville, NC
Looking ahead, Penzance plans to continue expanding its residential footprint in 2026, with new investments expected across the Mid-Atlantic region, from New Jersey to South Carolina.
