- $1.1 billion of these transactions have occurred during the past 12 months alone
- Pallas was established in 2016
- Funds are allocated towards first and second mortgage loans
Commercial real estate fund manager Pallas Capital has reached a milestone of $2 billion in cumulative transactions, with $1.1 billion of this being underwritten in just under 12 months.
Pallas Capital has raised funds from its high net worth, family office and institutional investor base, through an array of products, many propelled by the superior defensive qualities of the asset class.
Of the 280 transactions managed by Pallas to date, 121 have been fully repaid, with the rest performing at a satisfactory level.
None of the investments managed by Pallas since its inception in 2016 has suffered any credit impairment.
Funds are allocated across a range of first and second mortgage loans. Although largely focused on the Sydney, Melbourne, Adelaide and Brisbane markets, the investment manager’s appetite has extended towards well-performing regional centres.
Pallas offers borrowers five core loan types; acquisition, pre-development, construction, residual stock and vacant land loans. Along with this, they offer borrowers the flexibility to negotiate LVRs and levels of pre-sales for construction loans.
Their lending approach has expanded significantly recently to include everything from $2 million acquisitions loans to $100 million loans for mixed-use projects.
This year alone, Pallas funded a $2 million loan to assist with an acquisition in Putney while also funding a $90 million loans for the acquisition of a large mixed-use project in Melbourne’s inner east.
“It took Pallas Capital five years to transact its first billion dollars of investments, and less than a year to transact its second billion,” said Dan Gallen, Chief Investment Officer, Pallas Capital.
“I believe this reflects both the expertise and dedication of our staff, together with our growing reputation for professionalism and reliability.
“We now have 100 staff within Pallas Group, covering our lending and investment operations, and our property development side.
“These teams give us an unmatched window on the marketplace for the loans and property assets which we develop, or against which we lend. I believe that our investors, borrowers, apartment buyers and commercial tenants all benefit from our unique market insights and growing transaction volumes.”
