Washington, D.C.-based Penzance is expanding its reach in Charlotte through a recent multifamily portfolio acquisition.
The investment firm bought Presley Oaks, a 318-unit apartment community, from Florida-based American Landmark Apartments for $65 million, according to Mecklenburg County property records. Penzance paid roughly $204,400 per unit for the asset.
The sale was part of a more than $200 million acquisition of four properties in North Carolina and Virginia that closed in late December…