Penwood Real Estate Investment Management, LLC (West Hartford)


Penwood Real Estate Investment Management, LLC is a large advisory firm based in West Hartford. It manages $875.01 million of regulatory assets for 6 client accounts. It has been registered with the SEC as an adviser since 2003 and has operated in the jurisdictions of California, Connecticut, and New Jersey.

Penwood Real Estate Investment Management provides portfolio management for pooled investment vehicles. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

Penwood Real Estate Investment Management: assets under management

The assets under management (AUM) of Penwood Real Estate Investment Management, LLC is $875.01 million. The firm's AUM has grown by 775% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $838.4 million in discretionary accounts and $36.61 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $209.6 million each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $18.31 million.
Penwood Real Estate Investment Management has custody of $875.01 million in cash and securities for 6 clients in total but doesn’t act as a qualified custodian.

Fees & Commissions

The advisory firm has a single stream of revenue. Clients pay Penwood Real Estate Investment Management, LLC for their services and products based on performance-based fees. The adviser charges an additional fee when a set benchmark is outperformed. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Penwood Real Estate Investment Management serves?

The only and largest group of clients of Penwood Real Estate Investment Management is pooled investment vehicles with 6 clients and $875.01 million of assets under management. Among the 9 most similar advisory firms, Penwood Real Estate Investment Management has the 2nd highest percentage of pooled investment vehicles out of all clients.

The amount of regulatory assets under management is $875.01 million for 6 clients. None of the firm’s clients are foreign persons or businesses.

Penwood Real Estate Investment Management also advises several private funds. Namely, six real estate funds. The minimum investment commitment required of non-related persons ranges from $20,000,000 to $25,000,000.

Careers at Penwood Real Estate Investment Management, LLC

The company employs 15 people that are either part- or full-time employees. 100 percent of the employees work as investment advisers or researchers. No employees are registered as investment adviser representatives with the state securities authorities.

There isn’t anyone with the role of looking for and bringing in new clients on behalf of the firm. The firm doesn’t compensate employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.

Direct owners and executive officers


Name Entity Date acquired Ownership Employer ID
John Martin Hurley Member 1 Jun 2003 50% - 75% 4685319
Richard Hazen Chase Member 1 Jun 2003 50% - 75% 4685320
John Martin Hurley Member 1 Jul 2003 25% - 50% 4685319
Richard Hazen Chase Member 1 Jul 2003 25% - 50% 4685320
Karen Ann Nista Member 1 Oct 2003 Other 2891645
Inc. Penwood Realty Advisers Manager 1 Jan 2006 Other 20-3994727
Joseph John Koziol Chief compliance officer/chief financial officer 1 Mar 2006 Other 1868177
Lawrence Alan Cox Chief legal officer 1 Jun 2011 Other 6035857
Howard Freeman Managing director 1 Feb 2013 Other 6771726
Susan Babcock White General counsel 1 Feb 2016 Other 6617690

Based in West Hartford

The principal office where Penwood Real Estate Investment Management, LLC performs its advisory services is located at 75 Isham Road, West Hartford, CT 06107, which is also the mailing address of the firm. An additional office of the firm is in Pine Brook, NJ. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 860-218-6536 or by fax 860-218-6540. The normal business hours are 8:30am-5:00pm on Monday - Friday. You can find more information about the New York firm at penwoodre.com.

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