Investment Committee

Jim Worms

Jim Worms Chairman and Chief Executive Officer

Jim Worms

Chairman and Chief Executive Officer

Jim Worms

James R. Worms is a co-founder and the Chairman and Chief Executive Officer of Paladin Realty, where he oversees the firm’s investment strategy and execution. He serves on the firm’s investment committee. Prior to forming Paladin Realty in 1995, Mr. Worms was a Managing Director of Salomon Brothers, where he co-managed the firm’s worldwide real estate investment banking activities. In this capacity, he was involved in real estate investment and advisory transactions totaling billions of dollars, including extensive experience in all types of commercial and residential real estate. Prior to joining Salomon Brothers in 1987, Mr. Worms was a Principal at Eastdil Realty, Inc. where he directed Eastdil’s Western Region partnership investment operations. Before joining Eastdil in 1980, Mr. Worms worked as a Certified Public Accountant at Coopers & Lybrand. Mr. Worms has been a member of various industry organizations including the Pension Real Estate Association, the National Association of Real Estate Investment Trusts, the International Council of Shopping Centers and the Urban Land Institute, where he serves on the Recreation Development Council.

Mr. Worms graduated from UCLA with a Bachelor’s degree in Economics and from The Anderson School of Management at UCLA with a Master’s degree in Business Administration. Mr. Worms also graduated from Hastings College of Law with a Juris Doctor degree.

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Andrew H. Cummins

Andrew H. Cummins Head of Research

Andrew H. Cummins

Head of Research

Andrew H. Cummins

Andrew H. Cummins is Head of Research for Paladin Realty. He serves on the firm’s investment committee. Mr. Cummins has lived, worked and traveled extensively throughout Latin America since 1983. He is the Founder and Managing Partner of Explorador Capital Management, which operates a long/short hedge fund targeting Latin America, taking positions in equity and fixed income securities of publicly-traded and private companies in the region. Prior to starting Explorador, he worked at Emerging Markets Investors Corporation in Washington, DC. Mr. Cummins also previously worked in the acquisitions group of JMB Realty Corporation in Chicago, where his transaction experience included corporate and real estate acquisitions and financings.

Mr. Cummins graduated from The Haas School of Business at the University of California at Berkeley with a Bachelor of Science degree in Business Administration, where he was selected commencement speaker at graduation ceremonies, elected Senator of the student body government and was awarded a Nikko Securities Fellowship to Tokyo, Japan. He also graduated from Harvard Business School with a Master’s degree in Business Administration with a focus on corporate strategy and finance.

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Frederick Gortner

Frederick Gortner Managing Director, Chief Operating Officer

Frederick Gortner

Managing Director, Chief Operating Officer

Frederick Gortner

Frederick Gortner is a co-founder, Managing Director and Chief Operating Officer of Paladin Realty, where he is involved in many aspects of the firm’s investment activities, management and operations. He serves on the firm’s investment committee. Prior to joining the predecessor of Paladin Realty in 1994, Mr. Gortner was a Principal with the Tucker Investment Group, Inc., a Los Angeles based real estate investment and development firm, as well as a co-founder of Enterprise Management, Inc., a real estate property management company. He began his career at Chemical Bank (now JP Morgan Chase) in New York working on real estate related transactions. He has been a member of various industry organizations including the Pension Real Estate Association, the European Association for Investors in Non-listed Real Estate Vehicles, the Inter-American Dialogue and the Urban Land Institute. He has served on the boards of several civic organizations and led various public-private initiatives including business improvement district formation and zoning code reforms. He is a licensed California real estate broker.

Mr. Gortner graduated from Duke University with a Bachelor’s degree in Economics and Liberal Arts. He also graduated from The Anderson School of Management at UCLA with a Master’s degree in Business Administration, where he was inducted into the Beta Gamma Sigma national scholastic honor society and awarded the Wittenberg-Livingston Academic Fellowship for real estate studies.

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Randall Loker

Randall Loker Managing Director, Chief Investment Officer

Randall Loker

Managing Director, Chief Investment Officer

Randall Loker

Randall Loker is a Managing Director and Chief Investment Officer at Paladin Realty, where he focuses on the firm’s investments in Brazil and throughout the region. He serves on the firm’s investment committee. Prior to joining Paladin Realty in 2007, Mr. Loker was a Project Manager for Toll Brothers, a large U.S. public homebuilder, where he managed the construction and sales of a number of condominium projects in Northern California. Mr. Loker began his career as a Civil Engineer for international consultant Camp Dresser & McKee in Cambridge, Massachusetts, specializing in municipal sewer design and water treatment projects.

Mr. Loker graduated from the University of Michigan with a Bachelor of Science and Engineering degree in Civil and Environmental Engineering and has a Master’s degree in Real Estate Development from Massachusetts Institute of Technology.

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Alejandro (Alex) Krell

Alejandro (Alex) Krell Managing Director, Head of Central/South America

Alejandro (Alex) Krell

Managing Director, Head of Central/South America

Alejandro (Alex) Krell

Alejandro (Alex) Krell is a Managing Director of Paladin Realty, where he oversees the firm’s activities in South America (excluding Brazil) and Central America. He serves on the firm’s investment committee. A native of Uruguay, Mr. Krell has over two decades of management and real estate development experience, including senior executive positions at some of the largest residential development and construction firms in the world. He was previously the Director of Residential Development for the Tourism Development & Investment Company in Abu Dhabi, where he led the construction of nearly US$2 billion of residential and mixed-use real estate. Previously, Mr. Krell held senior positions with such leading homebuilding companies as KB Home, Shea Homes and Pulte Homes, most recently as a Division President of the latter. He also previously owned and managed one of the largest residential services businesses in Uruguay for several years.

Mr. Krell graduated from the University of Virginia with a Bachelors of Science degree in Architecture. He also received Masters degrees in Urban Planning and in Business Administration from UCLA, where he was awarded the Urban Land Institute, California Planning Foundation, and Wittenberg-Livingston fellowships among others.

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Ricardo Raoul

Ricardo Raoul Managing Director, Brazil Country Head

Ricardo Raoul

Managing Director, Brazil Country Head

Ricardo Raoul

Ricardo Raoul is a Managing Director and the firm’s Brazil Country Head based in São Paulo. He serves on the firm’s investment committee. A native of Brazil, Mr. Raoul has two decades of senior-level experience in commercial real estate investment and development in Brazil. For the past decade, Mr. Raoul was a Managing Partner at Muriqui Investmentos, a private São Paulo-based real estate investment, venture capital and growth equity firm. In that role, he worked closely with Paladin Realty in a successful office building joint venture with the firm’s Latam II fund from 2007 to 2012. He was previously Executive Vice President for Business Development at Cushman & Wakefield, where he helped establish and grow the firm’s operations in Brazil, Argentina and Chile.

Mr. Raoul graduated from Mackenzie University in Brazil with a Bachelor’s degree in engineering and from Stanford University with a Masters of Science degree (MSc) in Business Administration. He also has business degrees from Fundação Getulio Vargas – FGV (CEAG) and Harvard Business School (PMD).

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Santiago Gil

Santiago Gil Managing Director, Mexico Country Head

Santiago Gil

Managing Director, Mexico Country Head

Santiago Gil

Santiago Gil is a Managing Director and Mexico Country Head of Paladin Realty based in Mexico. Mr. Gil has worked closely with Paladin Realty since 2010, originally as a consultant to some of its ventures in Mexico. Previously, Mr. Gil structured real estate portfolio divestments for a variety of Mexican financial institutions in excess of $90 million in value at the Los Angeles based investment bank, Lucent Capital. Prior to this experience, Mr. Gil spent over seven years in several different capacities with Mexico City based Integra, to develop over 2000 housing units in projects over different market segments and locations across Mexico. Mr. Gil started his career underwriting international credit risk with Citi Bank’s Banamex in Mexico City. He is an active member of Urban Land Institute and has participated in the formation of different Urban Land Institute associations for the Los Angeles and Mexico chapters.

Mr. Gil holds a dual degree in Business Administration and International Relations from ITAM in Mexico City, and a Masters of Business Administration from UCLA Anderson School of Management.

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Los Angeles Office

Jim Worms

Jim Worms Chairman and Chief Executive Officer

Jim Worms

Chairman and Chief Executive Officer

Jim Worms

James R. Worms is a co-founder and the Chairman and Chief Executive Officer of Paladin Realty, where he oversees the firm’s investment strategy and execution. He serves on the firm’s investment committee. Prior to forming Paladin Realty in 1995, Mr. Worms was a Managing Director of Salomon Brothers, where he co-managed the firm’s worldwide real estate investment banking activities. In this capacity, he was involved in real estate investment and advisory transactions totaling billions of dollars, including extensive experience in all types of commercial and residential real estate. Prior to joining Salomon Brothers in 1987, Mr. Worms was a Principal at Eastdil Realty, Inc. where he directed Eastdil’s Western Region partnership investment operations. Before joining Eastdil in 1980, Mr. Worms worked as a Certified Public Accountant at Coopers & Lybrand. Mr. Worms has been a member of various industry organizations including the Pension Real Estate Association, the National Association of Real Estate Investment Trusts, the International Council of Shopping Centers and the Urban Land Institute, where he serves on the Recreation Development Council.

Mr. Worms graduated from UCLA with a Bachelor’s degree in Economics and from The Anderson School of Management at UCLA with a Master’s degree in Business Administration. Mr. Worms also graduated from Hastings College of Law with a Juris Doctor degree.

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Frederick Gortner

Frederick Gortner Managing Director, Chief Operating Officer

Frederick Gortner

Managing Director, Chief Operating Officer

Frederick Gortner

Frederick Gortner is a co-founder, Managing Director and Chief Operating Officer of Paladin Realty, where he is involved in many aspects of the firm’s investment activities, management and operations. He serves on the firm’s investment committee. Prior to joining the predecessor of Paladin Realty in 1994, Mr. Gortner was a Principal with the Tucker Investment Group, Inc., a Los Angeles based real estate investment and development firm, as well as a co-founder of Enterprise Management, Inc., a real estate property management company. He began his career at Chemical Bank (now JP Morgan Chase) in New York working on real estate related transactions. He has been a member of various industry organizations including the Pension Real Estate Association, the European Association for Investors in Non-listed Real Estate Vehicles, the Inter-American Dialogue and the Urban Land Institute. He has served on the boards of several civic organizations and led various public-private initiatives including business improvement district formation and zoning code reforms. He is a licensed California real estate broker.

Mr. Gortner graduated from Duke University with a Bachelor’s degree in Economics and Liberal Arts. He also graduated from The Anderson School of Management at UCLA with a Master’s degree in Business Administration, where he was inducted into the Beta Gamma Sigma national scholastic honor society and awarded the Wittenberg-Livingston Academic Fellowship for real estate studies.

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Randall Loker

Randall Loker Managing Director, Chief Investment Officer

Randall Loker

Managing Director, Chief Investment Officer

Randall Loker

Randall Loker is a Managing Director and Chief Investment Officer at Paladin Realty, where he focuses on the firm’s investments in Brazil and throughout the region. He serves on the firm’s investment committee. Prior to joining Paladin Realty in 2007, Mr. Loker was a Project Manager for Toll Brothers, a large U.S. public homebuilder, where he managed the construction and sales of a number of condominium projects in Northern California. Mr. Loker began his career as a Civil Engineer for international consultant Camp Dresser & McKee in Cambridge, Massachusetts, specializing in municipal sewer design and water treatment projects.

Mr. Loker graduated from the University of Michigan with a Bachelor of Science and Engineering degree in Civil and Environmental Engineering and has a Master’s degree in Real Estate Development from Massachusetts Institute of Technology.

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Gisele Narisawa

Gisele Narisawa Vice President of Finance - Latin America

Gisele Narisawa

Vice President of Finance - Latin America

Gisele Narisawa

Gisele Narisawa is the Vice President of Finance – Latin America at Paladin Realty. Prior to joining the firm in 2009, Ms. Narisawa was an Accounting Supervisor at Hearthstone, Inc., a Los Angeles-based real estate private equity firm, where she was responsible for all aspects of corporate accounting and financial reporting. Ms. Narisawa graduated from the Universidade de São Paulo in Brazil, with a Bachelor’s degree in Business Administration.

She also completed finance and accounting certificates at UCLA, and is a licensed Certified Public Accountant in California.

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Evan Pickering

Evan Pickering Vice President - Investor Relations

Evan Pickering

Vice President - Investor Relations

Evan Pickering

Evan Pickering is a Vice President at Paladin Realty, where he focuses on client relations and reporting. Prior to joining the firm in 2017, he worked as an institutional investment consultant where he served both corporate and public sector clients. He consulted on more than $2.5 billion of client assets in defined contribution and defined benefit pension plans. Mr. Pickering began his career working in the operations department of a national wealth management firm, where he was primarily responsible for trading, conducting investment analysis, and maintaining accounts. 

Mr. Pickering is a CFA® charterholder and is an active member in his local CFA society. He graduated from California State University, Long Beach with a Bachelor’s of Finance with a concentration in investments. He serves on the Advisory Board of the Student Managed Investment Fund for his alma mater.

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Brazil Office

Ricardo Raoul

Ricardo Raoul Managing Director, Brazil Country Head

Ricardo Raoul

Managing Director, Brazil Country Head

Ricardo Raoul

Ricardo Raoul is a Managing Director and the firm’s Brazil Country Head based in São Paulo. He serves on the firm’s investment committee. A native of Brazil, Mr. Raoul has two decades of senior-level experience in commercial real estate investment and development in Brazil. For the past decade, Mr. Raoul was a Managing Partner at Muriqui Investmentos, a private São Paulo-based real estate investment, venture capital and growth equity firm. In that role, he worked closely with Paladin Realty in a successful office building joint venture with the firm’s Latam II fund from 2007 to 2012. He was previously Executive Vice President for Business Development at Cushman & Wakefield, where he helped establish and grow the firm’s operations in Brazil, Argentina and Chile.

Mr. Raoul graduated from Mackenzie University in Brazil with a Bachelor’s degree in engineering and from Stanford University with a Masters of Science degree (MSc) in Business Administration. He also has business degrees from Fundação Getulio Vargas – FGV (CEAG) and Harvard Business School (PMD).

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Valter Rabotzke

Valter Rabotzke Asset Manager

Valter Rabotzke

Asset Manager

Valter Rabotzke

Valter Rabotzke is based in Paladin’s Brazil office and serves as Asset Manager. Prior to joining Paladin, Mr. Rabotzke worked at Deloitte Touche Tohmatsu, where he gained more than 7 years of audit and consulting experience on clients in the financial services, manufacturing and real estate industries. He also worked as Senior Internal Auditor at Itaú Bank, the largest private bank in Brazil.

Mr. Rabotzke graduated from FEI with a Bachelor’s degree in Electric Engineering.

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Daniel Takase

Daniel Takase Investment Director

Daniel Takase

Investment Director

Daniel Takase

Daniel Takase is an Investment Director based in Paladin Realty’s Brazil office. Prior to joining Paladin Realty in 2014, Mr. Takase worked for Fibra Experts, a large Brazilian real estate investment and development company, where he was responsible for new business development, land acquisitions, joint venture partnerships, leasing and dispositions of commercial and industrial projects in Brazil. Prior to that, he was with the Brazilian office of Tishman Speyer, where he was responsible for residential and commercial land acquisition, along with the leasing and management of several commercial properties in Brazil.

A native of Brazil, Mr. Takase has a Bachelor’s degree in Civil Engineering from Campinas State University in Brazil and a post-graduate degree in Real Estate from the University of São Paulo in Brazil. He also earned a Masters Degree in Real Estate from FAAP University in partnership with the Secovi University in Brazil. Mr. Takase also is a member of the Royal Institution of Chartered Surveyors (MRICS).

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Felipe Miguez

Felipe Miguez Investment Manager

Felipe Miguez

Investment Manager

Felipe Miguez

Felipe Miguez is an Investment Manager based in Paladin’s Brazil office. Prior to joining Paladin, Mr. Miguez worked for Direcional/Forcasa, one of the largest affordable home builders in Brazil, where he was responsible for new business development, land acquisitions, and residential projects. Prior to that, he worked for Cyrela, the largest homebuilder and real estate company by revenue and market value in Brazil, in charge of new developments in the northeastern region of the state of Sao Paulo.

A native of Brazil, Mr. Miguez has a Bachelor’s degree in Civil Engineering from Mackenzie University and a MBA with a concentration in Real Estate from the Fundacao Getulio Vargas – FGV in Brazil.

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Felippe Godoy

Felippe Godoy Investment Manager

Felippe Godoy

Investment Manager

Felippe Godoy

Felippe Godoy is an Investment Manager based in Paladin’s Brazil office. Prior to joining Paladin, Mr. Godoy worked for Rossi, one of the largest homebuilders in Brazil, where he was the head of operations in the south of the country, overseeing business development, land acquisitions, sales/marketing and construction. Prior to that, he worked for Kinea, one of the largest real estate asset management firms in Brazil, focused on investments in the residential, office and industrial sectors.

A native of Brazil, Mr. Godoy has a Bachelor’s degree in Civil Engineering from University of Sao Paulo – USP (POLI).

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Bruno Coelho

Bruno Coelho Investment Manager

Bruno Coelho

Investment Manager

Bruno Coelho

Bruno Coelho is an Investment Manager based in Paladin’s Brazil office. Prior to joining Paladin, Bruno worked for Cushman & Wakefield as senior manager of the Capital Markets group, focused on office and industrial investment sales in Brazil. Prior to that, he worked at São Carlos Empreendimentos Imobiliarios, one of Brazil´s largest public traded commercial property companies, where he was responsible for the management of the company´s real estate office portfolio.

A native of Brazil, Bruno has a Bachelor’s degree in Civil Engineering from Escola Politécnica da Universidade de São Paulo (Poli-USP) and has taken technical courses and certificates of Property Valuation at the RICS Institute, Negotiation Strategies and Skills at Fundação Getúlio Vargas (FGV-SP) and Project Management at Fundação Vanzolini.

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Fernando Souza

Fernando Souza Engineering and Construction Manager

Fernando Souza

Engineering and Construction Manager

Fernando Souza

Fernando Souza is a Senior Manager, Engineering & Construction based in Paladin Realty’s Brazil office. Prior to joining Paladin Realty in 2011, Mr. Souza worked in Brazil as Technical Manager for Firestone Building Products, where he was responsible for supervising and approving projects using PMBOK methodology in several countries within South America and the United States. He was also responsible for strategic planning, process creation and the drafting of technical manuals and training programs.

Mr. Souza graduated from Universidade Presbiteria Mackenzie in Brazil with a Bachelor’s degree in Civil Engineering. He also received his Masters of Business Administration from the Fundação Getulio Vargas University in Brazil.

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Colombia Office

Alejandro (Alex) Krell

Alejandro (Alex) Krell Managing Director, Head of Central/South America

Alejandro (Alex) Krell

Managing Director, Head of Central/South America

Alejandro (Alex) Krell

Alejandro (Alex) Krell is a Managing Director of Paladin Realty, where he oversees the firm’s activities in South America (excluding Brazil) and Central America. He serves on the firm’s investment committee. A native of Uruguay, Mr. Krell has over two decades of management and real estate development experience, including senior executive positions at some of the largest residential development and construction firms in the world. He was previously the Director of Residential Development for the Tourism Development & Investment Company in Abu Dhabi, where he led the construction of nearly US$2 billion of residential and mixed-use real estate. Previously, Mr. Krell held senior positions with such leading homebuilding companies as KB Home, Shea Homes and Pulte Homes, most recently as a Division President of the latter. He also previously owned and managed one of the largest residential services businesses in Uruguay for several years.

Mr. Krell graduated from the University of Virginia with a Bachelors of Science degree in Architecture. He also received Masters degrees in Urban Planning and in Business Administration from UCLA, where he was awarded the Urban Land Institute, California Planning Foundation, and Wittenberg-Livingston fellowships among others.

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Carlos (Charlie) Gaviria

Carlos (Charlie) Gaviria Investment Director

Carlos (Charlie) Gaviria

Investment Director

Carlos (Charlie) Gaviria

Carlos Gaviria is Paladin Realty Partner’s Investment Director based in Bogotá. He is responsible for acquisitions and asset management of the firm’s investments in Colombia and the Andean region. Mr. Gaviria previously worked for CMS+GMP Asociados SAS, a Colombian real estate development company, where he was responsible for structuring various residential and commercial development projects. Prior to that, he worked in the investment banking industry in Colombia.

Mr. Gaviria earned his Bachelor’s degree in Economics from the Universidad de los Andes and Master’s Degree in Corporate Finance from the CESA University in Bogotá.

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Andrés Bautista

Andrés Bautista Investment Manager

Andrés Bautista

Investment Manager

Andrés Bautista

Andrés Bautista is based in Paladin’s Bogota office and serves as an Asset Manager for the Andean region. Prior to joining Paladin Realty in 2015, Mr. Bautista was a Project Manager for Constructora Conconcreto, one of the largest construction and real estate development companies in Colombia, where he was responsible for the development and management of various housing, commercial and office projects.

Mr. Bautista graduated from the Universidad Nacional de Colombia with a Bachelor’s degree in Civil Engineering. He also graduated with distinction from the University of Birmingham in the United Kingdom with a Master’s degree in Construction Management.

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Carolina Pinzón

Carolina Pinzón Financial Manager

Carolina Pinzón

Financial Manager

Carolina Pinzón

Carolina Pinzón is based in Paladin’s Bogota office and is the Financial Manager for the Andean region. Ms. Pinzón previously worked at Porvenir, the largest pension fund in Colombia, where she served as a Senior Analyst for the private equity team.

Mrs. Pinzón holds a Bachelors of Science in Industrial Engineering from Universidad de los Andes, as well as degrees in Private Equity from Inalde School of Administration, Company Valuations from Universidad de los Andes, and Strategic Management from Universidad Javeriana.

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Mexico Office

Santiago Gil

Santiago Gil Managing Director, Mexico Country Head

Santiago Gil

Managing Director, Mexico Country Head

Santiago Gil

Santiago Gil is a Managing Director and Mexico Country Head of Paladin Realty based in Mexico. Mr. Gil has worked closely with Paladin Realty since 2010, originally as a consultant to some of its ventures in Mexico. Previously, Mr. Gil structured real estate portfolio divestments for a variety of Mexican financial institutions in excess of $90 million in value at the Los Angeles based investment bank, Lucent Capital. Prior to this experience, Mr. Gil spent over seven years in several different capacities with Mexico City based Integra, to develop over 2000 housing units in projects over different market segments and locations across Mexico. Mr. Gil started his career underwriting international credit risk with Citi Bank’s Banamex in Mexico City. He is an active member of Urban Land Institute and has participated in the formation of different Urban Land Institute associations for the Los Angeles and Mexico chapters.

Mr. Gil holds a dual degree in Business Administration and International Relations from ITAM in Mexico City, and a Masters of Business Administration from UCLA Anderson School of Management.

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Rodrigo Cruz

Rodrigo Cruz Investment Manager

Rodrigo Cruz

Investment Manager

Rodrigo Cruz

Rodrigo Cruz is an Investment Manager based in Paladin’s Mexico office.  Mr. Cruz will be involved in the acquisition and asset management of investments located throughout Mexico.  Prior to joining Paladin, Mr. Cruz worked for Vesta, one of Mexico’s largest industrial real estate asset management and development firms, where he was responsible for analyzing acquisitions and development investments in excess of US$100 million. Prior to that, he worked at Abilia, one of the largest  real estate developers in Mexico, focused on investments in the residential, office, retail and mixed-use sectors, overseeing the strategic planning of 16 projects under development.

Mr. Cruz holds a bachelor’s degree in Civil Engineering from the Monterrey Institute of Technology (ITESM). Mr. Cruz is also an active member of the Urban Land Institute Young Leaders’ chapter in Mexico City.

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Josefina Anaya

Josefina Anaya Senior Construction and Engineering Manager

Josefina Anaya

Senior Construction and Engineering Manager

Josefina Anaya

Josefina Anaya is a Senior Construction and Engineering Manager, based in Paladin’s Mexico City Office.  Prior to joining Paladin, Mrs. Anaya served as Projects Coordinator at Marhnos, one of the ten largest real estate developers in Mexico with 62 years in the market, where she was in responsible for overseeing the healthcare development and operation projects in public-private partnerships, LEED-Certificated office development (in coordination with Turner Construction) of more than 100,000 square meters, as well as housing planning and development for the Marhnos Vivienda unit.  Throughout her career in design and real estate, she has participated in projects involving retail, museums, industrial facilities, banks, cinemas and public spaces.

Ms. Anaya has a Bachelors of Arts in architecture from Unversidad Autonoma Metropolitana in Mexico City, and has further education in urban planning, sustainable architecture and interior design.

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