Fund III closed to new investors in 2025 after receiving commitments from Penzance and a diverse mix of 23 premier institutional investors, including foundations, endowments, public and private pension funds, and a family office.
Penzance acquired Gateway & Linden, a two-park industrial flex portfolio with a combined 212,000 square feet of industrial space in February. The investment is a high-quality industrial flex asset acquired below replacement cost in a supply-constrained market.
