White Marsh, Md. — September 2, 2026 — Kenwood Corporate Drive Investors, an affiliate of Kenwood Management Company, announced today that it has returned 100% of its investors’ initial equity following the refinancing of its White Marsh commercial real estate portfolio.
Kenwood Corporate Drive Investors owns four single-story office and medical buildings totaling 120,000 square feet in White Marsh, Maryland. Following the refinance, investors have received their full initial investment back while retaining their equity ownership in the properties and continuing to receive distributions.
Kenwood acquired the White Marsh portfolio in 2016. Over the past 10 years, investors have received an average annual return of 9.3%, including preference payments and bonus distributions, and have now received 100% of their initial equity back.
The original acquisition included five properties purchased for approximately $110 per square foot. In 2022, Kenwood sold one of the properties, which was fully leased to Verizon, for approximately $310 per square foot. Proceeds from that sale were used to reduce debt on the remaining portfolio.
Jason Smith of Northmarq represented Kenwood in the refinancing process, which marks the company’s second significant investment milestone in recent months. Last month, Hampton Commerce Center, another Kenwood affiliate, sold a 73,000-square-foot small-bay warehouse property. Investors in that property achieved a 20.5% internal rate of return (IRR) after all fees and expenses over a 24-year period and received more than 10 times their original investment.
“We are very pleased to accomplish this level of returns. Our investment goal is to return all or nearly all our investors’ initial equity after 10 years, and we met that goal. Our private equity model includes two key components: co-investment from Kenwood sponsors and internal property management services. We believe that both of these components enhance investor returns,” said Bill Singer, principal at Kenwood Management.
Kenwood’s private equity real estate investment model allows Kenwood investors to retain their equity ownership even when their initial equity has been fully returned. The company’s model also incorporates co-investment from Kenwood sponsors and internal property management services.
To learn more about Kenwood Management Company and explore future private commercial real estate investment opportunities, visit the Kenwood website.
Kenwood is a commercial real estate owner-operator with a portfolio totaling approximately 1.4 million square feet across medical, office, warehouse, and flex properties. The company’s assets are primarily located throughout the Washington, D.C., and Baltimore metropolitan areas.
Kenwood utilizes private equity to expand its portfolio, with its sponsors typically contributing between 10% and 20% of the total equity in each investment. Kenwood's disciplined investment approach and hands-on management style have supported long-term tenant relationships across its portfolio. The company manages its properties with a focus on tenant retention and maintaining high occupancy across its portfolio. Additional information about Kenwood and its investment opportunities is available on Kenwood Management’s website.