Pennington Partners & Co. has launched Pennington Real Estate Partners (PREP).
The new vertical will make direct investments in residential and commercial real estate across the United States, providing new and existing Pennington clients with proprietary real estate investment expertise.
The new offering will focus on tax-advantaged investing, including opportunity zones, structured equity and senior secured lending giving emerging opportunities in the existing marketplace.
The launch represents an expansion of the Pennington team with the addition of Taylor Coe and Alex Rongione.
Before joining Pennington, Coe was on the equity investment team at Walker & Dunlop Investment Partners (WDIP). At WDIP, Coe was responsible for closing investments with a total capitalization in excess of $1.3 billion. Rongione was also on the equity investment team at WDIP. He contributed to all aspects of the investment process, including but not limited to capital r