Uncategorized

Any inquiries from the press should be directed to:


Evan Pickering
Vice President
(310) 996-8755
epickering@paladinrp.com

Paladin Realty Closes on R$337 million for Brazilian REIT Targeting Boutique Office Development in São Paulo

Paladin Realty Partners, LLC, a leading real estate investment fund manager focused on the Americas, has had a successful R$337 million first closing of a Brazilian Fundo de Investimento Imobiliario (“FII”, a fund similar to a U.S. REIT) for the development of boutique office buildings in the prime supply-constrained submarkets of São Paulo. In partnership with investment firm Hedge Investimentos and local developer Idea Zarvos, Paladin’s São Paulo-based team will be executing the development strategy, taking advantage of the recovery of São Paulo’s office market and trends that favor smaller office buildings in prime submarkets. The first four development sites are located in the submarkets of Itaim, Pinheiros, Paulista and Jardins, which have vacancy rates in the range of 5-10%, compared with 24% for the city’s overall Class A market. Paladin and Idea Zarvos have been partners since 2014, developing for-sale residential projects as well as purpose-built rental apartment building in São Paulo.

  READ MORE

Paladin Realty Invited by IFC to be an “EDGE Champion” – Recognized as a Leader in Sustainable Housing in Latin America

Paladin Realty Partners has been invited by the International Finance Corporation (“IFC”) to be an EDGE Champion in recognition of Paladin’s more than two decades of leadership in accelerating the adoption of international green building best practices for housing throughout Latin America.

The IFC’s Excellence in Design for Greater Efficiencies (EDGE) program was established to help developers design, build, and certify projects that achieve a minimum of 20% savings in water, energy, and embodied energy in materials. Paladin has been working with the EDGE program since 2018 when it certified its first low-income project in the greater metropolitan area of Mexico City, “Villas del Fresno”, a 1,639-unit project which is currently the largest EDGE-certified affordable housing project in the Western Hemisphere. The project will save an estimated 1,300 tons of CO2 from entering the atmosphere each year as well as saving 28% in energy, 24% in water and a savings of 74% in embodied energy in materials compared to conventional building.

  READ MORE

Paladin Realty Adds Camilo Otálora as Managing Director and Colombian Country Manager

Paladin Realty Partners, LLC, a boutique real estate private equity fund manager and operator focused on the Americas, announced today that it has hired Camilo Otálora as Managing Director and Colombian Country Manager. Mr. Otálora will be based in Paladin’s Bogotá office and serve on the region’s Investment Committee. A native of Colombia, Mr. Otálora has over 20 years of real estate investment, finance and development experience in Colombia, Central America and the USA. Prior to joining Paladin Realty, he was a partner at Boston Andes Capital, a private equity real estate investment, asset management and development firm with offices in Boston, Bogotá and Buenos Aires.

 
READ MORE

Paladin Realty Adds Senior Executive to Los Angeles Office to Lead U.S. Value-Added Apartment Business

Paladin Realty Partners, LLC, a boutique real estate private equity fund manager and operator focused on the Americas, announced today that it has hired George Pappas as Managing Director to lead the firm’s U.S. value-added investment business focused on renovating and repositioning Class B and C rental apartment properties in Southern California. He will be based in the firm’s Los Angeles headquarters and serve on its Investment Committee. For more than 35 years, Mr. Pappas has sponsored and managed investment vehicles that have acquired a range of income-producing real estate assets throughout Southern California, including over two dozen value-added apartment investments. He previously worked for a private equity investment firm led by former U.S. Treasury Secretary William E. Simon that acquired failed U.S. thrifts and savings and loans. In these prior roles, Mr. Pappas acted in a range of senior management functions, including in asset management and receivership capacities spanning virtually all types of real estate across a range of U.S. markets. In addition, he has served as an advisor to the U.S. SEC and bankruptcy courts on matters relating to complex, multi-use real estate assets. He previously founded Sunterra Golf, in partnership with American Golf Corporation co-founder Sandy Burns, and grew that company to more than $24 million in revenues and 200 employees, which was named as Crittenden Golf Magazine’s 2007 Management Company’s on the Rise.

 
READ MORE

Paladin Realty Pioneering the Development of Purpose-Built Rental Apartments in São Paulo, Brazil

Paladin Realty Partners, LLC, a leading real estate investment fund manager focused on Latin America, has announced a new programmatic joint venture to develop a portfolio of purpose-built rental apartment properties in São Paulo, Brazil. The venture has initially committed in excess of R$130 million to capitalize its first projects, with the intention of increasing the size of the program as more sites are identified. While more than 40% of households in São Paulo are believed to be renters, there are few purpose-built, institutional quality apartment buildings due to a historical lack of debt financing and other factors. As a result, the existing rental market is comprised largely of “mom and pop” landlords who may rent one or two condominiums, providing a compelling market opportunity for well capitalized institutional investors to build and operate a portfolio of purpose-built rental apartment buildings. With a population of over 20 million, São Paulo represents an ideal market to launch the venture’s strategy.

 
READ MORE