Connecticut-based Penwood Real Estate Management has announced the final close of Penwood Select Industrial Partners (PSIP) VII after reaching $425 million of committed capital.
PSIP VII will invest with a value-add strategy to acquire existing and develop new industrial real estate properties in Nevada, New Jersey, New York, Pennsylvania and Southern California, some of the key logistics hubs in the United States.
The fund will seek to capitalize through acquisition, management, rehabilitation, redevelopment and/or development of industrial properties, and seeks to acquire properties at or below replacement cost.
PSIP VI closed in 2021 and raised $325 million in capital.
For more information about this fund and others, visit the IREI.Q database.
