Palladius Raises $15M Series A to Capitalize its Management Entity
Palladius Capital Management has announced its formation as a vertically integrated real estate investment manager, focused on pursuing multifamily, student housing, hospitality and select thematic investment strategies, Commercial Observer can first report.
Palladius launched in July 2021 and raised $15 million in a Series A funding round to capitalize its management entity. 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 executive.
Since its inception, the Austin, Texas-based firm and its affiliates have acquired approximately $500 million in assets. Most of these transactions were sourced off-market, including the more than $100 million acquisition 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. Together, these professionals have acquired, managed and operated more than $8 billion of assets throughout their careers.
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