Mr. Tolkan’s extensive real estate connections, market knowledge and entrepreneurship make him a leader in the industry.  In 1996, he, along with Julia Springer, founded Penzance.  Assets under management in partnership with blue chip institutional investors exceed $3.7 billion over the firm’s history through separate accounts, joint ventures, and its discretionary funds.  He is a member of the Investment and Executive Committees.​

In 2017, the firm launched Fund I to invest in value add and opportunistic strategies, including development projects, across the region.  As Managing Partner, he is intimately involved in all investment activities, including acquisitions, developments, re-developments, financings, asset management, leasing, and dispositions.​

A Washington, DC native, Mr. Tolkan utilizes his connections and extensive market knowledge to uncover cyclical as well as situational opportunities, works to develop capital strategies appropriate for such opportunities, and oversees timely execution.  Mr. Tolkan is central to the development of appropriate business plans for each asset and monitors performance against these plans.​

Prior to founding the firm, Mr. Tolkan was responsible for site acquisition, development, leasing, management, tenant build-out, and design for CNV Partnership.  He was also the President and CEO of The Door Store, a retail furniture business.  Mr. Tolkan received a BA from Tulane University.