Cortland Launches $1B Investment in DC Area with Initial Multifam Acquisitions
Atlanta-based Cortland has acquired four properties in Arlington, VA totaling more than 1,500 units. According to the company, the acquisitions are a $1 billion investment that marks its re-entry into the DC area market and confidence in the return to the urban core.
“Northern VA 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. “The combination of these investments allows us to gain a strong foothold in the region at a strategic time based on our proprietary analysis of market trends.
Two of the four acquisitions have been identified: 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.
Cortland manages and is invested in, directly or indirectly, over 250 apartment communities with more than 85,000 units throughout the US.
Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group.
When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.
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