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.
Penzance acquired Southgate 77, a 220,400 SF Class A industrial asset, in October. The property is located in Rock Hill, South Carolina and offers immediate access to I-77. The property serves as a key location for logistics and light manufacturing users, benefiting from limited new supply in the Charlotte industrial market.
