Palladius Raises $15M Series A to Capitalize its Management Entity
Palladius Capital Management announced that it will become a “vertically integrated real estate investment manager” that will be focused on finding investments in the multifamily, student housing and hospitality markets, the company announced.
Palladius was founded in 2021 and has since pulled in $15 million in a Series A round to “capitalize its management entity,” according to the release. Its investors include Charlesbank; Timothy Dunn, chairman of JE Dunn; Robert Yallen, CEO of the InterMedia Group of Companies; Shaun Arora, co-founder of VC firm MiLA Capital; and Max Cutler, Parcast founder and Spotify (SPOT) executive.
Since it started, the Austin, Texas-based firm and its affiliates acquired nearly $500 million in assets, of which it said most were “sourced off-market,” according to the release. That includes a more than $100 million purchase of a 624-unit multifamily property in Texas.
“From the way that we are structured to the manner in which we raise capital and pursue investments, Palladius was purpose-built to be different from other real estate investment managers,” Chexal said in prepared remarks. “Our Series A funding enabled us to put in place, right out of the gate, a best-in-class team and tech-enabled platform, allowing us to efficiently and prudently deploy capital into assets that we can operate with precision. We believe our early platform investments provide us with a sustainable competitive advantage, enhancing our ability to generate alpha on invested capital.”
The platform is being led by a team of commercial real estate, finance and technology veterans including CEO Nitin Chexal and senior managing directors Manish Shah, Marko Velazquez and Jaime Hinojosa, which Palladius said have “acquired, managed and operated more than $8 billion of assets throughout their careers.”
Update: This story originally misattributed source material. This has been corrected. We apologize for the error.
Emily Fu can be reached at efu@commercialobserver.com.
