Parkway Corporation Announces Parkway U.S. Land Carry Fund I is Fully Invested

PHILADELPHIA, Aug. 11, 2025 /PRNewswire/ -- Parkway Corporation, a Philadelphia-based real estate developer, investor, and best-in-class parking operator, announced today that its inaugural fund, Parkway U.S. Land Carry Fund I, LP (the Fund) is now fully invested. Since its launch in 2021, the Fund has made 14 investments in 17 surface parking lots nationwide. Most recently, the Fund completed transactions in Charlotte, Houston, and Philadelphia.

The portfolio is comprised of 497,108 square feet (11.4 acres) of urban infill land in 10 states and a total of 1,449 surface parking spaces.

The Fund targeted acquisition opportunities in primary, secondary, and tertiary markets that have mature or emerging paid‐parking characteristics, a multiplicity of parking demand generators, and demonstrable economic momentum and business growth. This platform focused on acquiring and investing in surface parking lot facilities that have current operating cash flows where a higher or better use may be achievable over a longer time horizon.

Robert Zuritsky, CEO of Parkway and Managing General Partner of the Fund, said, " We are very pleased to have completed the allocation of capital and the acquisition of a distinctive portfolio of urban parking assets during a transformative period. Our disciplined approach has allowed us to execute in a challenging environment, securing well-located properties that offer both durable cash flow and significant upside potential. As conditions stabilize and the development cycle returns, we're positioned to deliver strong risk-adjusted returns."

Daniel Dean, the Fund's Operating Partner added, "When we launched, disruptions from COVID-19 created the backdrop for meaningful value investing, but government support and historically low interest rates delayed expected dislocation distress. Our patience, broad reach, versatility, and discipline positioned us to remain highly selective investors during periods of inexpensive capital. Recently and certainly now, with capital markets having tightened and seller liquidity pressures rising, we're seeing the deal flow we long anticipated."

About Parkway Corporation
Parkway is a full-service real estate developer, investor, and operator with deep expertise in property and parking management. Founded and headquartered in Philadelphia, Parkway Corporation has been an industry leader for over 103 years in combining operational excellence and innovative technology to deliver exceptional products and customer experiences. More information about the company is available at www.parkwaycorp.com or connect with us on LinkedIn.

Contact:
Sara McGovern, Slice Communications
smcgovern@slicecommunications.com
610-914-5977 

SOURCE Parkway Corporation