Parkway Corporation announces formation of U.S. Land Carry Fund I
Philadelphia-based Parkway Corporation, a parking operator and real estate development and investment company, has completed the formation of Parkway U.S. Land Carry Fund I.
The fund was capitalized to acquire more than $100 million of surface parking lot assets in the United States.
“We are extremely pleased to have completed the capitalization of the fund on the basis of investment by ourselves and some of the most innovative people across all commercial real estate asset classes and non-real estate asset classes as well. Having done this during the height of the pandemic and economic dislocation, we are pleased to have already completed our first four acquisitions,” said Robert Zuritsky, Parkway’s CEO.
Parkway U.S. Land Carry Fund I, LP is targeting acquisition opportunities in primary, secondary, and tertiary markets that have mature or emerging paid‐parking characteristics, a multiplicity of parking-demand generators, and demonstrable economic momen