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March 2, 2021

W. Hartford’s Penwood Real Estate raises $382M for new fund

By Matt Pilon

West Hartford’s Penwood Real Estate Investment Management has launched its sixth industrial property investment fund with $381.5 million in freshly raised capital.

Penwood Select Industrial Fund VI will acquire and create industrial real estate properties in Southern California, New York and New Jersey, the firm said.

Penwood announced the sixth fund last month, but did not disclose the amount raised. That detail emerged in a Feb. 26 filing with the U.S. Securities & Exchange Commission.

Penwood was formed in 2003 and is led by its three owners Richard Chase, John Hurley and Karen Nista.

The firm’s fifth fund was launched in late 2017 after raising $325 million.
 

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