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Penzance Announces Deal With Cortland To Acquire Aubrey At The Highlands

May 18, 2022•over 3 years ago

Acquiring Company

Penzance

Acquired Company

Aubrey

Real EstateFinancial Services

Description

Penzance, a leading owner, operator, and developer in the Washington, DC metropolitan region for over two decades, announced today the sale of Aubrey, one of its three luxury multi-family properties at The Highlands development in Rosslyn, to Cortland. The property, developed in partnership with The Baupost Group LLC, a Boston-based investment manager, is a trophy asset in Northern Virginia.

Company Information

Company

Penzance

About

Penzance is a vertically integrated, full-service real estate firm with a focus on investment-grade asset opportunities in the greater Washington, DC metropolitan area. Since its founding 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 premier owners, operators, and developers of transformative properties, provides exceptional in-house acquisitions, leasing, development, construction, asset, and property management services.

M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed