Howard Freeman Joins Penwood


For Release: Upon Receipt

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Howard Freeman Joins Penwood Real Estate Investment Management as Managing Director of Acquisitions


Hartford, CT – February 18, 2013Penwood Real Estate Investment Management, LLC is pleased to announce the addition of three new members to the Penwood team including Howard Freeman as Managing Director of Acquisitions, Zachary Flynn as Associate – Acquisitions, and Nicholas Balkun as Analyst.

Mr. Freeman will oversee Penwood’s New Jersey office and be responsible for sourcing, analyzing and performing due diligence for the company’s prospective acquisitions.

“We are thrilled to have Howard as a part of the Penwood team,” stated Richard Chase, the Head of Acquisitions and a co-founder of Penwood. “Howard is well respected in the industry and will be a major contributor to Penwood’s future success. The depth of Howard’s acquisition expertise, market knowledge and industry relationships will allow him to contribute to Penwood’s investment program immediately.”

“Penwood had planned on opening a New Jersey office since the company was founded in 2003, but we needed to be sure that we had the right person,” added John Hurley another co-founder of Penwood and the Head of Portfolio Management. “Howard has all the tools that we were looking for and we are excited to have him lead our New Jersey office.”

Mr. Freeman has over twenty years of experience in commercial real estate and most recently operated the East Coast office of Los Angeles based Cohen Asset Management, Inc.. Prior to that, he was the Senior Regional Director and the Senior Investment officer for the Eastern Region of First Industrial Realty Trust, Inc. where he was primarily responsible for the company’s acquisition, development, redevelopment, reposition, disposition, leasing, operation and asset management activities in select markets along the East Coast. Early in his career, as Senior Vice President and Director of Acquisitions for Geometry Group, Inc., Howard directed the real estate investment activities and investor reporting of the company’s commingled private equity funds and prior to that worked with Coopers & Lybrand’s National Real Estate Advisory Services practice where he acquired, managed, restructured and disposed of underperforming and underutilized assets while conducting valuation and due diligence analyses for many large real estate debt and equity transactions on behalf of numerous institutional clients. Mr. Freeman resides in New Jersey and is an active member of the National Association of Industrial and Office Properties (NAIOP).

Mr. Freeman received his B.S. in Applied Economics & Business Management from Cornell University and his M.B.A. in Finance/Money & Financial Markets from Columbia University.

Zachary Flynn joined the Penwood acquisitions group as an Associate. Mr. Flynn was most recently an Analyst at Hartford Investment Management Company and received his B.S. in Finance – Real Estate and Urban Economics with a minor in Environmental Studies from the University of Connecticut. Nicholas Balkun was hired as an Analyst after earning his B.S. in Finance with a minor in Psychology from the University of Connecticut.

About Penwood Real Estate Investment Management, LLC: Penwood is a Registered Investment Adviser formed in 2003 and based in Hartford, CT. Penwood is an entrepreneurial real estate investment advisory group focused on the institutional investor market. The company provides a national real estate perspective, disciplined management process and experienced investment management. Penwood is currently focused on value-added investments through the redevelopment, reposition, and rehabilitation of industrial property in major seaport markets.

For information about Penwood, contact John Hurley at

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