Pallas hires new director

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PALLAS Group has appointed Mark Spring as the new executive director.

Spring has, led capital raising efforts at Pallas Capital since the group’s establishment in 2016, heading up a team that uses market expertise to push for innovation in the industry.

The four-year fixed rate Austraclear bond product was a result of the efforts of this team.

“Pallas Capital has witnessed incredible growth over the years. We have reached some exciting milestones in the last 18 months, including reaching over $1.3 billion in cumulative transactions since inception and over $800 million in funds currently under management,” said Spring.

The commercial real estate investment manager surpassed this $1 billion mark in transactions back in July, after seeing $653 million in transactions in 12 months.

“Our growth has been made possible by our strong base of investors and lenders, who see value in our product and service.”

Before working at Pallas, Spring held positions at BGC Partners and Prebon Yamane Group and has more than 30 years of experience.

“Joining Pallas Group’s board of directors will give me more insight and visibility into both sides of the business, and the opportunity to drive more innovation,” added Spring.

Spring will strengthen Pallas Group’s distribution offerings by making additional hires, as well as strengthening the group’s investor experience, while expanding Pallas domestically and internationally.

In August, Pallas’ development arm, Fortis, lodged plans for an 18-level office tower in South Melbourne, VIC,  as part of its $180 million development pipeline in the city fringe suburb, which includes two recent acquisitions for a combined price of around $17 million.

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