Decision-Making From an Owner’s Perspective
Penwood is a Connecticut limited liability company based in Hartford, and registered as an investment adviser with the Securities and Exchange Commission. Penwood was formed in 2003 by a team of experienced real estate professionals–Richard Chase, John Hurley, and Karen Nista–who own and operate the firm. They established Penwood to provide an opportunity for qualified institutional investors to access domestic, supply-restrained real estate markets using a highly targeted, value-added investment strategy. The principals’ mind-set is to make decisions from an owner’s perspective about investment properties for the funds they create and manage. This means they:
- Never lose sight of investors’ risk/return parameters and liquidity requirements.
- Apply realistic, forward-looking assumptions using strict underwriting criteria to maximize longer-term value.
- Respond promptly and decisively to any requests for information and data by investors and operating partners.
- Share risk through co-investment of principals’ capital in each partnership.
- Uphold the highest standards of openness, candor and honesty when interacting with investors and operating partners.
Prior to founding Penwood, the principals served in key management positions at well-regarded real estate investment management companies where they honed their skills as investment managers and effectively executed fiduciary responsibilities for investors.