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Brett Palos
British property developer and businessman (born 1974) From Wikipedia, the free encyclopedia
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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 and is a significant shareholder in Dexter's London's largest estate agency.[3]
Palos has been involved in the purchase of more than £1 billion of commercial and residential assets since 2012 with Brett Palos Investments.[2]
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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
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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]
In 2021 Palos teamed up with Oakley capital to back the growth of Dexter's now londons largest estate agent and he remains the largest individual shareholder.[20]
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Personal life
Palos lives in London with his wife and three children.[21] He owns a home in Miami Beach.[14]
References
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