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Investment Focused On Value Creation

Our Mission & HISTORY

Penwood seeks to create significant value for investors by structuring and executing investment strategies that manage incremental risk and capitalize on commercial real estate supply and demand trends.

Penwood, a company with a rich history, was founded in 2003 by Richard Chase, John Hurley, and Karen Nista, a team of experienced real estate professionals. Following Rick’s retirement in 2023, John and Karen, along with Joseph Koziol, Christine Kubas and Zachary Flynn, continue to own and operate Penwood today. The company was established to provide qualified institutional investors with an opportunity to access domestic, supply-restrained real estate markets using a highly targeted, value-added investment strategy.

rendering of modern gray building

Meet the Team

The expertise of our investment professionals is a core strength of our firm. Penwood’s experience and disciplined creativity produce tailored investments that create value and manage risk for our stakeholders.

Investment Strategy

Penwood offers risk-managed strategies to accommodate the value-added real estate allocation of institutional investors through individual or commingled fund formats. We are exclusively focused on supply-restricted markets with diverse demand generators and active capital interest.


Strategic relationships are an integral and consistent source of Penwood’s success.

Our Value Creation at Work

The properties pictured below highlight our versatility and flexibility, illustrating projects representing multiple uses and industries.


Our investment expertise is our strength.

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Penwood's partnerships are structured to maximize alignment of interests.

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A highly focused investment strategy with a disciplined process.

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