# Penwood Real Estate Investment Management, LLC

> Penwood Real Estate Investment Management, LLC is an SEC-registered investment advisory firm in West Hartford, CT, registered since 2005, reporting $1 billion to $5 billion in regulatory assets under management in its Form ADV filing dated March 27, 2026.

- CRD: 130289
- Filed as: PENWOOD REAL ESTATE INVESTMENT MANAGEMENT, LLC
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: West Hartford, CT
- Filing period: October 2026
- Form ADV filing dated: March 27, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/130289
- AdvisorCensus page: https://advisorcensus.com/firm/penwood-real-estate-investment-management-llc-west-hartford-ct-130289

## Quick answers

**How is Penwood Real Estate Investment Management, LLC compensated?**
On its Form ADV (Item 5.E, October 2026), Penwood Real Estate Investment Management, LLC reports these compensation arrangements: performance-based fees; other. The amounts are in Item 5 of its Form ADV Part 2A brochure.

**Where is Penwood Real Estate Investment Management, LLC located?**
Penwood Real Estate Investment Management, LLC's principal office is in West Hartford, CT, according to its Form ADV; the April 2026 filing also lists 1 other office (Schedule D, Section 1.F).

**Is Penwood Real Estate Investment Management, LLC registered with the SEC or a state?**
Penwood Real Estate Investment Management, LLC is an SEC-registered investment advisory firm, registered since 2005. Status as filed: Approved. CRD 130289.

**How much does Penwood Real Estate Investment Management, LLC manage?**
Penwood Real Estate Investment Management, LLC reports $1,473,454,853 in regulatory assets under management in its Form ADV filing dated March 27, 2026 (100% discretionary).

**How have Penwood Real Estate Investment Management, LLC's assets and staff changed since 2021?**
In the Form ADV data for Penwood Real Estate Investment Management, LLC: Regulatory assets under management: $1,162,321,390 in the October 2021 data and $1,473,454,853 in the October 2026 data, up 27%. Total employees: 15 in October 2021 and 18 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Penwood Real Estate Investment Management, LLC serve?**
By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (6).

**Does Penwood Real Estate Investment Management, LLC report any disciplinary disclosures?**
Reports no disclosure items on Form ADV Item 11. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/130289

**What changed in Penwood Real Estate Investment Management, LLC's recent Form ADV filings?**
In the April 2026 filing data: Employees performing advisory functions went from 17 to 18.

## From the Form ADV filing

### Compensation (Item 5.E)
- Performance-based fees
- Other

### Regulatory assets under management (Item 5.F)
- Total: $1,473,454,853
- Discretionary: $1,473,454,853
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Pooled investment vehicles (other than investment companies and business development companies) | 6 | $1,473,454,853 |

### Advisory services (Item 5.G)
- Portfolio management for pooled investment vehicles (other than investment companies)

### Firm details
- Registered since: 2005 (20 years)
- Employees: 18 total, 18 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: CT, NJ
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Other offices (Schedule D, Section 1.F), as of the April 2026 filing
- Morristown, NJ

### Websites listed on Form ADV (Item 1.I)
- [penwoodre.com](https://penwoodre.com)
- LinkedIn @penwood-real-estate-investment-management-llc

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $1,162,321,390 | 15 | May 21, 2021 |
| October 2022 | $1,166,984,935 | 16 | March 30, 2022 |
| October 2023 | $1,534,794,195 | 16 | March 30, 2023 |
| October 2024 | $1,575,142,059 | 17 | June 10, 2024 |
| October 2025 | $1,557,361,120 | 17 | March 27, 2025 |
| October 2026 | $1,473,454,853 | 18 | March 27, 2026 |

Regulatory assets under management: $1,162,321,390 in the October 2021 data and $1,473,454,853 in the October 2026 data, up 27%.
Total employees: 15 in October 2021 and 18 in October 2026.

## Changes in the filing (last 12 months)

### April 2026
- Employees performing advisory functions went from 17 to 18.

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Penwood Real Estate Investment Management, LLC (CRD 130289): Form ADV filing data as of October 2026.