“Northern Virginia is a highly coveted location that is already experiencing a rebound in growth as residents return to the urban core,” said mike altman, Chief Investment Officer at Cortland. “This is just the beginning of Cortland’s investment in the area, driven by our commitment to providing an unparalleled resident-centric, hospitality-driven experience that changes the standard of apartment living.”
Initial acquisitions include Aubrey, a 331-unit apartment community, now 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 soon.
“The combination of these investments allows us to gain a foothold in the region at a strategic time based on our proprietary analysis of market trends. Cortland Rosslyn is a trophy, and we plan to combine it with Cortland’s value-added capability in our other new communities,” Altman said.
Corland Rosslyn a luxurious, LEED Gold-certified community, developed by Penzance, has a sophisticated aesthetic, offering studios to 3-bedroom homes, penthouses and split-level townhouses plus a rooftop lounge and pool with views spectacular and scenic views of the Potomac River and CC. Residents can enjoy well-appointed and flexible amenities as well as a vibrant and active lifestyle in the Rosslyn neighborhood with convenient access to all DC has to offer and is considered a “walker’s paradise” with a score of 93 steps.
Cortland Pentagon City is located across from Amazon HQ2 at National Landing, overlooking the future Helix Tower. The first urban mixed-use community is defined by a vibrant mix of offices, apartments, restaurants, shops, parks, hotels, cultural venues, walking trails and more.
“Our capabilities will allow us to upgrade Cortland Pentagon City to go along with the grand vision others have laid out for National Landing,” said Dan Irvin, Chief Investment Officer at Cortland. “We believe that the growth of this region’s technology sector is important to the future of the region’s economy and provides diversity to Cortland’s Solar Belt portfolio. These are generational assets, and we intend to be stewards of the community.
Cortland plans to double its investment in the region with the aim of becoming a top player in the market in the near future.
Cortland was founded in 2005 and focuses on multi-family development in Atlanta with a vision to challenge the conventions of the traditional multi-family industry through better living spaces and experiences.
Cortland is a vertically integrated, multi-family property investment, development and management company focused on providing resident-centric, hospitality-focused apartment living experiences. Based at AtlantaCortland manages and invests in, directly or indirectly, more than 250 apartment communities comprising more than 85,000 homes in the United States with regional offices in Charlotte, dallas, denver, Houston, Orlando and Tampa. Cortland has significant experience in acquiring, developing, renovating, owning and operating multi-family communities, leveraging the services of its affiliated companies to build, design and manage properties, assets and of investments. Internationally, Cortland maintains a UK management and development platform.
Cortland is a National Multifamily Housing Council (NMHC) Top 50 Owner and Manager, Top Performing Brand for Online Reputation in 2021 (Reputation Score by reputation.com), and is a Certified Great Place to Work™ Company (2021). For more information, please visit cortland.com.
The foregoing press release is for informational purposes only. Nothing contained herein should be construed as a solicitation to offer investment advice or services, or a solicitation to buy or sell any security. Information about investing in a Cortland fund is only available in the form of private placement memoranda and other offering documents which contain information to help investors assess investment objectives, risks, fees and expenses of Cortland funds, among other factors, before considering an investment.
This press release may contain forward-looking statements. Any opinions, forecasts, projections or other statements, other than statements of historical fact, are forward-looking statements. You are cautioned not to place undue reliance on these forward-looking statements. Due to various risks and uncertainties, actual events or results or actual performance may differ materially from those reflected or contemplated in these forward-looking statements. No information contained in this presentation can be considered as a guarantee, promise, assurance or representation as to the future. These forward-looking statements have not been reviewed by anyone outside of Cortland, and while Cortland believes these statements to be reasonable, they involve a number of assumptions, risks and uncertainties. Except as required by law, Cortland undertakes no obligation to publicly revise any forward-looking statement to reflect circumstances or events after the date of this press release or to report the occurrence of unanticipated events. Cortland’s past and current performance is not indicative of future results, and no representation is made that any Cortland investment will achieve its objectives or that any Cortland strategy will be successful. This press release is not personalized investment advice or an investment recommendation from Cortland.