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March 28, 2014

Hartford real estate fund raising $250M

Photo | HBJ File Penwood is housed in the Gold Building, but its real estate focus is California.

Hartford’s Penwood Real Estate Investment Management has raised about half of an intended $250 million for its investment fund.

The real estate investment advisory firm, which is housed at downtown’s Hartford’s Gold Building on Main Street, had raised $126.3 million from three investors as of March 25, according to a filing with the U.S. Securities and Exchange Commission.

The money is for its Penwood Select Industrial Partners III, a closed-end fund that has picked up four industrial properties in Southern California since 2012, according to Penwood’s website. The properties total about 727,000 square feet.

The Hartford Business Journal has reached out to Penwood Principal John Hurley for comment.

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