Fundraising - JANUARY 29, 2013

Paladin Realty launches second Colombian venture

Paladin Realty Partners has launched PALVAL Homebuilding Platform, a Bogotá, Colombia–based joint venture. Its partner is Colombia-based real estate development company Grupo Inmobiliario y Constructor Valor S.A. This is Paladin’s second investment in Colombia within the past year.

The PALVAL Homebuilding Platform Development Platform will build and sell middle-income residential projects located in high-density urban settings in high-demand areas, with a primary focus on Bogotá.

“With Colombia’s strong economy and emerging middle class, there has been a groundswell of demand for the type of housing the PALVAL platform will be developing," says Pablo Sala, a senior vice president at Paladin Realty Partners.

Paladin has invested $15 million of equity in the platform, and Valor has committed $5 million, bringing the total investable platform equity to $20 million, with the goal of expanding it further in the near future. With this capital, the PALVAL platform has the potential to develop over 1,000 middle-income housing units with a total value of approximately $100 million. 

Paladin entered Colombia a year ago with its Pali-Trocha home-building platform, which is inpartnership with La Trocha, a 30-year-old family development firm focusing on higher density, highly designed housing and commercial projects in upper income neighborhoods in Bogotá. The Pali-Trocha platform focuses on upper-income residential infill projects and boutique hotels in urban Bogotá, as well as opportunistic land and commercial deals in suburban paths of development outside the city.

Paladin Realty Partners has been involved in the acquisition and/or development of over $5 billion of real estate in seven countries to date across Latin America. Paladin Realty is headquartered in Los Angeles.

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