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  • Mark Gregg
  • Olav B. Kollevoll, Jr.
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  • Timothy Riordan
  • J. Christian Merdoc
  • Thomas Fleury
  • Tim McDonald
  • Gary Edell
  • Creighton R. Schneck
  • Michael Moriarty
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Penrose Partners

Penrose Partners serves as the development and asset acquisition vehicle for a variety of property types including both improved properties and land. Penrose has formed partnerships with individual, corporate and institutional clients to rezone, entitle, plan and develop office, retail, multifamily, hospitality, industrial and residential real estate. Representative transactions include:

Park Crest
Development of a 14-acre site in the heart of Tysons Corner, Virginia. Park Crest will contain 1,354 condominiums, both luxury high-rise and loft, and 100,000 square feet of retail. Park Crest will be the first luxury high-rise condominium developed in Tysons Corner in over twenty years.

U.S. Department of Agriculture
Development and sale of a 300,000 square foot, $42 million build-to-suit office building, fully leased to the U.S. Department of Agriculture on a long-term lease.

Irvington Centre
Construction of One, Two and Three Irvington Centre, which consists of three buildings containing approximately 600,000 SF of office space located in the King Farm development in Rockville, Maryland.

Riggs National Bank Building
Renovation of the historic Riggs National Bank Building located at 9th F Street in NW in Washington, DC and its conversion into a 188 room Marriott Courtyard Hotel. Penrose partnered with the Donohoe Company in developing this property.

King Farm
A 430-acre land development project in Montgomery County, Maryland approved for 3,200 dwelling units and 3 million square feet of office with a development cost of over $250 million. King Farm is a partnership of Penrose Partners and the Pritzker Family interests.

Virginia Twin Oaks
A 19-story luxury multifamily development containing 314 units. Twin Oaks is located in Rosslyn, Virginia was sold at completion for a substantial profit.

Gallery at Virginia Square
An 18-story luxury multifamily development containing 231 units. The Gallery at Virginia Square is located in Arlington, Virginia adjacent to the Virginia Square Metro Station. This property was sold for a substantial profit at completion.

Gateway Center
A 2,000,000 square foot bulk industrial project located in Columbia, Maryland. This unique facility provides warehousing needs for large corporate users such as Sears, Price Costco, and Giant Foods.

Penrose Partners’ role in the above partnerships includes acquisition, land entitlement, development, financing (both debt and equity) marketing, leasing, facility maintenance, budgeting, asset management and disposition.

Penrose Partners is presently developing Park Crest and King Farm. The photos illustrate the commitment to architectural details and community quality.