Penzance has launched a new fund, targeting value-add investments in residential and commercial properties and mixed-use development throughout the Washington, D.C., metropolitan region.
The fund, Penzance DC Real Estate Fund II, has already raised $265 million from 19 investors, according to an SEC filing.
Penzance is an owner, operator and developer in the Washington, D.C., metropolitan region. The firm closed its first real estate private equity fund, the Penzance DC Real Estate Fund, with $255 million in equity commitments in October 2018.
