The Fund Launches with $255M to Build a Portfolio of Real Estate Investments Throughout the Washington, D.C. Region WASHINGTON, October 17, 2018-- Penzance, an owner, operator and developer in the Washington, DC metropolitan region, for more than two decades, 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. The Fund's investor base includes a diverse mix of institutional investors, including endowments, foundations, and family offices. No placement agent was used in the launch of the Fund.