Pallas in growth mode
In August, Pallas, which works in the growing commercial property markets across Australia and New Zealand, sealed the deal on a $500 million Australia lending vehicle backed by Morgan Stanley. The new vehicle — dubbed Pallas Funding Trust No. 5 (PFT5) — was designed to offer loans ranging from $15 million to $35 million for pre-development, residual stock, and investment property opportunities, targeting Australia’s rapidly growing middle-market commercial real estate sector.
