Brett Palos

Last updated

Brett Palos
Born
Brett Alexander Palos

July 1974 (age 49)
NationalityBritish
Occupation Property developer
Parent
Relatives Stasha Palos (sister)

Brett Alexander Palos (born July 1974) [1] is a British property developer and entrepreneur. He is the founder of Brett Palos Investments and the chairman of The Thackery Estate. [2] Palos owns Palos Developments, a luxury property development and design company in Miami Beach, Florida. [3]

Contents

Palos has been involved in the purchase of more than £1 billion of commercial and residential assets since 2012 with Brett Palos Investments. [2]

Early life

Brett Palos was born in 1974 to Robert Palos and Tina Green. [4] His sister is Stasha Palos. His parents opened a clothing shop in Johannesburg, South Africa and expanded the business abroad. [5] They divorced after 20 years together. [5] Brett became the step-son of Philip Green when his mother Tina married the retailer in 1990. [6]

Career

In 1997, Palos was part of his step-father Philip Green’s negotiating team that outmaneuvered Sears plc when the company was selling its subsidiaries. [7]

In 2003, Palos bought the office supplies group ISA from the receivers to its then US parent, Daisytek International. [8] In 2005, ISA made a pre-tax profit of £5.9 million on sales of £231 million. [8] In 2006, Palos appointed investment bank Rothschild to sell ISA. [8] In 2007, Palos sold ISA to Electra Private Equity for a net gain of £35 million. [9]

In 2008, Palos, then 33 years old, was ranked 1,727 in the Sunday Times rich list with a wealth of £43 million. [9] [10]

In 2009, Palos, along with partners Anthony Lyons and Simon Conway, purchased the O2 Centre on Finchley Road in London for over £90 million. [9] [11]

In 2010, Palos added more than 500 apartments to his property portfolio after buying them in a £400 million deal with Lloyds Banking Group. [12] [13]

In 2012, Palos, along with partner Antony Alberti, acquired The Thackeray Estate, a London-based property investment company that specialises in repositioning commercial, mixed-use and residential development projects. [2]

In 2013, Palos started developing luxury spec homes in Miami. [14] A few years later, his company Palos Developments sold a waterfront spec home on North Bay Road in Miami Beach for 20 million dollars. [15] It was one of the highest sale prices ever on the street. [15] Palos described the homes his company develops as "contemporary Balinese-Deco style." [16]

In 2014, Matterhorn Palos Partnership, a joint venture between Brett Palos Investments and Matterhorn Capital, sold three Spire Healthcare hospitals for £110 million to the largest U.S. healthcare real estate trust. [17] In 2015, Matterhorn Palos Partnership sold Kings Mall shopping centre in Hammersmith, London, to Schroders UK Real Estate fund in a deal worth £153 million. [18]

In 2019, Palos’ Thackeray Estate sold Eastcheap Estate, a mixed-used scheme in London, for £45.5 million to Hong Kong investor LKK Health Products Group, the owner of the nearby Walkie-Talkie building. [19]

Personal life

Palos lives in London with his wife and three children. [20] He owns a home in Miami Beach. [14]

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References

  1. ↑ "Brett Alexander PALOS - Personal Appointments (free information from Companies House)". find-and-update.company-information.service.gov.uk. Retrieved 24 November 2020.
  2. 1 2 3 Jacoby, Charlie (6 April 2015). "Spirits high in post-election market". The Jewish Chronicle. Retrieved 1 November 2020. Mr Palos has been involved in the purchase of more than £1 billion of commercial and residential assets over the past five years via Brett Palos Investments... The Thackeray Estate is a privately owned London-based property investment company, which specialises in repositioning high-quality commercial, mixed-use and residential development projects... Originally established in the 1960s, the company was acquired by Mr Palos and Mr Alberti in 2012.
  3. ↑ Cordle, Ina (21 April 2016). "Palos Developments targets Miami Beach for waterfront spec homes". The Real Deal. Retrieved 1 November 2020. Palos, who has built spec homes in London priced as high as $8,000 per square foot, first started developing spec homes in Miami three years ago, since he first bought a property for his family on La Gorce Island in Miami Beach.
  4. ↑ Mychasuk, Emiliya; Terazono, Emiko (31 October 2007). "Plot thickens". Financial Times. Archived from the original on 19 March 2011. Brett Palos is the son of the Monaco-based Lady Tina Green and first husband, the South African Robert Palos, from her previous life as a boutique owner in Johannesberg.
  5. 1 2 Ruddick, Graham (8 July 2016). "Tina Green: Lady of leisure or 'blonde hurricane' of a formidable partnership?". The Guardian. Retrieved 10 November 2020. They opened a clothes shop in South Africa and expanded the business abroad...The couple divorced after 20 years together.
  6. ↑ Whitworth, Damian (4 May 2016). "Superyachts, private jets and big parties — inside the world of billionaire Tina Green". The Times of London. ISSN   0140-0460 . Retrieved 10 November 2020. he proposed, and they married in 1990 in the garden of their home
  7. ↑ Shah, Oliver (2018). "Chapter 14". Damaged goods : the inside story of Sir Philip Green, the collapse of BHS and the death of the High Street. UK: Penguin Books. ISBN   978-0-241-34121-6. OCLC   1043910665.
  8. 1 2 3 Fletcher, Richard (7 November 2006). "Green's stepson seeks £80m for group he rescued". Telegraph. Retrieved 4 May 2016.
  9. 1 2 3 "Brett Palos". The Sunday Times. 26 April 2009. ISSN   0140-0460 . Retrieved 1 November 2020. Palos, 34, netted £35m in 2007 when his ISA group was sold to Electra Private Equity. The stepson of billionaire retailer Sir Philip Green (qv), Palos clearly has an eye for a bargain. He bought ISA, a Bradford-based office supplies group, in 2003, after its US parent had gone into receivership. Last month he teamed up with Anthony Lyons (qv) and Simon Conway (qv) to buy the 02 leisure and retail centre on London's Finchley Road for £92.5m.
  10. ↑ Davies, Katie (12 March 2009). "02 centre bought by local millionaire 'boys'". Hampstead Highgate Express. Retrieved 1 November 2020. The latest addition to the Conway-Lyons partnership is Brett Palos. The 33-year-old was listed as 1727th with a wealth of £43million and there are rumours he has called upon the invaluable support of his stepfather, Topshop mogul Sir Philip Green.
  11. ↑ Davies, Katie (12 March 2009). "02 centre bought by local millionaire 'boys'". Hampstead Highgate Express. Retrieved 1 November 2020. Matterhorn Capital, a partnership of millionaire property tycoons Anthony Lyons, Simon Conway and stepson of billionaire Sir Philip Green, Brett Palos, say they will take a "hands-on" approach to the shopping centre bought for more than £90million this week.
  12. ↑ "Lookers bid: Sir Philip Green stepson's role". Evening Standard. 3 May 2011. Retrieved 2 November 2020. Last year he bought more than 500 central London apartments in a £400 million deal with Lloyds bank.
  13. ↑ Morrison, Douglas (14 May 2010). "Brett Palos completes £400m London residential investment deal". Property Week. Retrieved 2 November 2020. Entrepreneur Brett Palos has paid Lloyds Banking Group and Residential Land Holdings about £400m for 21 apartment blocks across central London in one of the biggest residential investment deals for years.
  14. 1 2 Cordle, Ina (21 April 2016). "Spec Homes Miami Beach | Palos Developments Miami Beach". The Real Deal South Florida. Retrieved 10 November 2020. Palos, who has built spec homes in London priced as high as $8,000 per square foot, first started developing spec homes in Miami three years ago, since he first bought a property for his family on La Gorce Island in Miami Beach.
  15. 1 2 "Palos Developments | 6466 N. Bay Rd | Miami Beach Spec Homes". The Real Deal South Florida. 6 April 2017. Retrieved 10 November 2020.
  16. ↑ "Spec Homes Miami Beach | Palos Developments Miami Beach". The Real Deal South Florida. 21 April 2016. Retrieved 10 November 2020.
  17. ↑ Batt, Andrew (24 June 2015). "UK's Kings Mall sold off market". Commercial Guru. In 2014, Matterhorn Palos Partnership sold three Spire Healthcare Hospitals for £110 million to the largest U.S. healthcare Real Estate Trust.
  18. ↑ Batt, Andrew (24 June 2015). "UK's Kings Mall sold off market". Commercial Guru. Retrieved 1 November 2020. British commercial investment entity Matterhorn Palos Partnership, a joint venture between Matterhorn Capital and Brett Palos Investments, has sold, in an off market transaction, the prominent Kings Mall shopping centre in Hammersmith, West London.
  19. ↑ Ward, Anna (7 March 2019). "LKK buys Eastcheap Estate". Estates Gazette. Retrieved 10 November 2020. Hong Kong investor LKK Health Products Group, owner of the Walkie-Talkie building in London, has bought a mixed-use scheme close to the skyscraper from the Thackeray Estate... Thackeray instructed BNP Paribas Real Estate to sell Eastcheap Estate, EC3, for £45.5m in October, having fully let it earlier that month.
  20. ↑ Harley, Nicola (18 January 2018). "Burglar threatened half-naked wife of Sir Philip Green's stepson in £2m jewellery raid on their £18m home, court hears". The Telegraph. ISSN   0307-1235 . Retrieved 1 November 2020.
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