Cortland re-enters suburban D.C. market with $1b acquisitions

Cortland announced it has acquired four apartment properties in Arlington, Va., totaling more than 1,500 units. The $1 billion investment marks Cortland’s re-entry into the D.C. area market and confidence in the return to the urban core.

“Northern Virginia is a highly coveted location that is already seeing a rebound in growth as residents move back to the urban core,” said Mike Altman, CIO at Cortland. “This is just the start of Cortland’s investment in the region, driven by our commitment to deliver an unrivaled resident-centric, hospitality-driven experience that is changing the standard of apartment living.”

The initial acquisitions include Aubrey, a 331-unit apartment community, now to be known as Cortland Rosslyn, and Aura Pentagon City, a 534-unit apartment community, to be renamed Cortland Pentagon City. Two additional Arlington communities are expected to close and will be announced later.

Cortland Rosslyn, a luxurious, LEED Gold Certified c