Parkway Corporation Achieves Significant Funding Milestone
Parkway Corporation has exciting news to share as it announces that its inaugural investment initiative, named Parkway U.S. Land Carry Fund I, is now fully invested. This marks an important milestone for the company, which has established itself as a leading player in the real estate market.
Investment Summary of the Fund
Since its inception, this fund has successfully secured 14 investments involving 17 strategically located surface parking lots across the United States. Notable cities where transactions have taken place include locations in the southern and central regions of the country, showcasing Parkway's commitment to enhancing urban infrastructure.
Portfolio Highlights
The diverse portfolio encompasses approximately 497,108 square feet of urban infill land, equating to about 11.4 acres, alongside 1,449 parking spaces. This unique combination not only adds value to the company's holdings but also contributes positively to the communities these assets serve.
Targeted Investment Strategy
The Parkway team has been deliberate in its approach, seeking out properties in primary, secondary, and tertiary markets characterized by their ongoing parking needs and economic vitality. This strategic focus has allowed the fund to identify opportunities within markets that demonstrate significant parking demand and economic growth potential.
Leadership Insights
Robert Zuritsky, CEO of Parkway Corporation and Managing General Partner of the Fund, expressed his optimism about completing this phase of capital allocation. He noted the importance of seizing opportunities during a period of market transformation. His confidence stems from a disciplined investment process that has thrived even in challenging economic conditions, allowing the firm to acquire assets that promise sustainable cash flow alongside the prospect for long-term growth.
Future Market Prospects
Daniel Dean, the Fund's Operating Partner, further elaborated on the context in which the fund was established, reflecting on the significant market disruptions caused by the pandemic. He emphasized the firm’s patience and selective investment strategy during a time of low-interest rates and assured capital availability. As funding conditions shift, Parkway Corporation is poised to capitalize on attractive deal opportunities that align with its strategic priorities.
About Parkway Corporation
With a legacy spanning over a century, Parkway Corporation has been at the forefront of real estate development and management. The company specializes in parking management but also has deep expertise in various real estate sectors. Parkway’s commitment to innovation and operational excellence has kept it a leader in its field, and the company continues to harness technology for enhanced customer experiences.
Contact Information
For those looking to learn more about Parkway Corporation, comprehensive information can be obtained from their website. Interested parties may also reach out to Sara McGovern from Slice Communications for inquiries or additional details.
Email: smcgovern@slicecommunications.com
Phone: 610-914-5977
Frequently Asked Questions
What is the Parkway U.S. Land Carry Fund I?
This fund represents Parkway Corporation's inaugural investment initiative, focusing on acquiring surface parking lots across key U.S. markets.
How many investments has the fund made?
The fund has completed 14 investments involving 17 parking lots nationwide.
What types of markets does Parkway target for investment?
Parkway targets primary, secondary, and tertiary markets with strong parking demand and business growth potential.
Who leads the Parkway Corporation?
Robert Zuritsky serves as the CEO and Managing General Partner of the fund, with Daniel Dean serving as the Operating Partner.
Where can I find more information about Parkway Corporation?
More information can be found on their official website or by contacting their communications representative directly.
