Penrose Group Raises $92M in Financing for Pike 3400

ARLINGTON, VA-The Penrose Group has landed $92 million in financing for an apartment project in Arlington.

By GlobeSt News Hub | August 06, 2012 at 01:01 AM

ARLINGTON, VA-The Penrose Group has landed $92 million in financing for an apartment project in Arlington. The project, called Pike 3400, will comprise 257 apartment units and it will come up at Glebe Road and Columbia Pike.

Last month, Penrose bought the old Rosenthal Jeep/Chrysler dealership site for $27.1 million with plans to develop the project. Besides the apartments, Penrose is also planning to construct 44 townhouses. Jamie Butler and David Webb, brokers from Cassidy Turley, arranged the financing for Vienna-based Penrose. For the full story, go to Washington Business Journal .

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