The non-bank lender has appointed a senior credit manager whose role would include the structuring and approval process for all commercial real estate loans and establishing credit policy.
Pallas Capital has announced the appointment of former Deloitte Real Estate executive Alexis Holloway as senior credit manager.
In his role, Mr Holloway will be responsible for the structuring and the approval process of all commercial real estate loans, and for establishing credit policy. He will form a part of the investment committee at Pallas Capital.
Prior to joining Pallas Capital, Mr Holloway spent 13 years in the real estate and structured finance sector, most recently as senior credit manager at Balmain Group in commercial mortgages.
Before that, he was the associate director at Deloitte Real Estate, the property division of Deloitte, and an associate at CVS Lane Capital Partners, where he worked in real estate lending, investment and advisory, structured capital solutions, including mezzanine debt, equity, and joint venture funding.
Mr Holloway’s appointment has followed the appointment of former La Trobe Financial executive Steve Lawrence to the role of executive director of lending in May, who is focusing on service, speed-to-market, and flexibility in assessing and delivering loans to the lender’s client base.
Commenting on Mr Holloway’s appointment, Pallas Group chief investment officer Dan Gallen said: “In a market that is dominated by major banks and institutions, often it can be difficult to find senior credit personnel that perfectly match the skill set and expertise that a company needs as it continues to grow.
“We are extremely fortunate to have Alexis join the Pallas Capital team, bringing with him a wealth of experience that he has acquired over the years through his work in corporate advisory, non-bank credit and funding roles.
“As Pallas Capital expands its FUM to further attract discretionary capital, we are confident that Alexis’ addition to the team will provide valuable, enhanced oversight over the Pallas Capital loan portfolio as it continues to witness exponential growth.”
Mr Holloway also spoke about his new role, which he commenced in May, stating: “I have admired from afar the business Dan and the leadership team have created at Pallas Capital. The company has experienced tremendous growth over the past five years and amassed a team of talented and experienced real estate financiers. I hope to contribute to its continued growth.
“The common goal at Pallas Capital is to become the preeminent leader in the Australian CRE (commercial real estate) debt sector. If we continue to bring our years of experience, innovation and thoughtful funding solutions to our borrower clients, then the common goal becomes very attainable.”
Pallas Capital was established in 2016 as structured property investment arrangers, and have underwritten over $850 million of transactions to date.
According to Mr Lawrence, around 95 per cent of non-bank’s loans are originated through the broker channel, while the other 5 per cent is originated via the direct channel.
The non-bank lender provides funds for loans secured against non-specialised property assets, primarily city-fringe assets valued between $5 million and $40 million in Sydney, Brisbane and Melbourne.
The lender said that the loans are supported by due diligence on the borrower, a realistic and multifaceted exit strategy, and active management of all loans by the Pallas Capital team throughout the term.
[Related: Non-bank lender appoints lending executive]
Malavika Santhebennur is the features editor on the mortgages titles at Momentum Media.
Before joining the team in 2019, Malavika held roles with Money Management and Benchmark Media. She has been writing about financial services for the past six years.
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