Penzance announces new acquisition of Arlington apartment community Jasper Columbia Pike

Penzance has announced the acquisition of Jasper Columbia Pike in Arlington, Va., a 269-unit multifamily property formerly known as Avalon Columbia Pike. Northmarq’s mid-Atlantic investment team brokered the transaction. Jasper Columbia Pike is now professionally managed by Greystar following the acquisition.

“Penzance is excited about the newest addition to our robust portfolio, Jasper Columbia Pike,” said Cristopher White, managing director investments at Penzance. “We continue to grow our presence in Northern Virginia and are excited to provide best-in-class spaces for our tenants. This property enjoys excellent access to the major employment centers of Arlington and delivers high-end lifestyle amenities for the residents.”

The spacious, upscale homes within Jasper Columbia Pike, ranging from studios to one- and two-bedroom apartments, offer residents spaces equipped with full-size in-unit washers and dryers, stainless-steel appliances, wood-style flooring