Mr. Tolkan’s extensive real estate connections, market knowledge and entrepreneurship make him a leader in the industry. More than 20 years ago, he, along with Julia Springer Tolkan, co-founded Penzance, a real estate investment firm. The firm’s assets under management currently exceed $1.3 billion with an aggregate transaction volume of $3 billion over the firm’s history in partnerships with blue chip institutional investors through separate accounts, joint ventures and its discretionary fund.
In 2017, the firm launched the Penzance DC Real Estate Fund LP, to invest in value add and opportunistic strategies, including development projects, across the region. The Penzance DC Real Estate Fund ll LP was launched in the fourth quarter of 2019. 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 co-founding the firm, Mr. Tolkan was responsible for the 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 his BA from Tulane University.
