# PENWOOD Real Estate Investment Management

PENWOOD Real Estate Investment Management is an Asset Manager.

## Overview

- **Organization type:** Asset Manager
- **Assets under management:** Undisclosed
- **Website:** penwood.com
- **LinkedIn:** https://www.linkedin.com/company/penwood-real-estate-investment-management-llc

## Regulatory record

- **CRD number:** 130289
- **SEC file number:** 801-64767
- **Registration status:** Registered
- **Reports private funds:** Yes
- **IAPD record:** https://adviserinfo.sec.gov/firm/summary/130289

## About

Penwood Real Estate Investment Management, LLC is an SEC-registered investment adviser established in 2003. It provides institutional investors with access to supply-restrained real estate markets through a value-added investment strategy. Penwood's professionals use their expertise to make strategic decisions and maximize results.

## Sectors

- Real Estate
- Industrial
- Logistics & Distribution

## People

- Steven L. Berman — Chairman

## Questions

### Who runs investment decisions at PENWOOD Real Estate Investment Management?

Steven L. Berman chairs PENWOOD and leads investment decisions. The firm operates as a centralized investment manager without a separate, externally named CIO. Berman's involvement across acquisitions, asset management, and dispositions reflects the firm's lean organizational structure.

### What is PENWOOD's investment strategy and geographic focus?

PENWOOD pursues a value-add strategy focused on industrial, warehouse, and logistics properties in infill locations across the Northeastern United States. Core markets include Northern New Jersey, Eastern Pennsylvania, and the greater New York City metro area. The firm targets assets with vacancy, near-term lease rollover, or functional obsolescence, then executes capital improvement and re-tenanting programs.

### How does PENWOOD source its deal flow?

PENWOOD sources acquisitions primarily through regional broker relationships and its principals' decades-long track record in Northeastern industrial markets. The firm relies on off-market and lightly marketed transactions, supported by its reputation as a credible, all-cash or low-leverage buyer that can close quickly on complex, operationally intensive properties.

### Does PENWOOD participate in fund commitments or only direct deals?

PENWOOD executes direct property acquisitions and does not market a blind-pool commingled fund to external institutional investors. Its deal-by-deal capital formation has historically been private, without public filings or publicly announced fund closes. The firm has not disclosed participation as a limited partner in other managers' vehicles.

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Last updated: 2026-06-03T20:00:00.000Z

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