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Private Equity

$255M Penzance Fund To Target D.c.-area Investments

by multihousingnews.com posted 7months ago 55 views
Penzance enters the private equity business, targeting a portfolio size of $800 million to $1 billion for the fund. : Real estate owner, operator and developer Penzance has closed its first real estate private equity fund. The Penzance DC Real Estate Fund LP (“Fund I”), with total equity commitments of $255 million, was launched to target value-add investments in D.C.-area residential, commercial and mixed-use real estate. The discretionary fund’s investor base includes a diverse mix of institutional investors. They include endowments, foundations and family offices.