Closed on the Penzance DC Real Estate Fund with a diverse mix of blue-chip institutional investors, including endowments, foundations, and family offices. The $255 million fund targets value-add investments in residential and commercial property and mixed-use development projects throughout the Washington, DC metropolitan region. In a partnership with a Boston-based hedge fund, Penzance broke ground on the Highlands mixed-use development concurrently with the execution of a $380 million construction loan financed by Mack Credit Real Estate Strategies.