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Alternative Assets  + Real Estate  | 
Penwood Closes 7th Value-Added Vehicle at $425M

Penwood Closes 7th Value-Added Vehicle at $425M 

Penwood Real Estate Management has closed its seventh value-added investment vehicle, Penwood Select Industrial Partners VII, L.P., at $425 million. 

The fund is a closed-end, commingled partnership fund that will buy existing and construct new industrial real estate properties in key logistical hubs in the United States, including Southern California, New Jersey, New York, Pennsylvania, and Nevada. 

Investments will be made in industrial properties through purchase, management, rehabilitation, redevelopment, and/or development, with the goal of acquiring properties at or below replacement cost.   

Penwood believes that the current economic and real estate investment environment indicates that the opportunity for acquiring assets remains attractive in the industrial sector, particularly in the densely populated markets of Southern California and New York/New Jersey, as well as the growing Las Vegas metro area. 

Founded in 2003, the firm is a registered investment advisor based in West Hartford, CT. 

Pictured: Penwood headquarters in West Hartford, CT. 

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Penwood Real Estate Management

About Joe Palmisano

Joe Palmisano is Editorial Director for Connect Money, where he brings nearly three decades experience of market insights as a financial journalist, analyst and senior portfolio manager for leading financial publications, advisory firms, and hedge funds. In his role as Editorial Director, Joe is responsible for the selection of content and creation of daily business news covering the financial markets, including Alternative Assets, Direct Investment and Financial Advisory services. Before joining Connect Money, Joe was a financial journalist for the Wall Street Journal, regularly publishing feature stories and trend pieces on the foreign exchange, global fixed income and equity markets. Joe parlayed his experience as a financial journalist into roles as a Senior Research Analyst and Portfolio Manager, writing daily and weekly market analysis and managing a FX and US equity portfolio. Joe was also a contributing writer for industry magazines and publications, including SFO Magazine and the CMT Association. Joe earned a B.S.B.A. in Finance from The American University. He holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.

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