Alex Hurst: Firm he founded now holds $1.6 billion in real estate assets
Perhaps, in a parallel universe, Alex Hurst is a successful author of business strategy books rather than the founder and managing principal of real estate investment firm Palatine Capital Partners.
He nearly went down that path while on hiatus from college. He was working abroad in England, where he’d gotten in on the ground floor of a successful internet startup whose sale provided him with funds he’d later use to launch Palatine in 2007.
As part of a proposal for Oxford University Press – an opportunity he got through a friendship with its editor – he interviewed several wildly successful entrepreneurs, Michael Bloomberg and Martha Stewart among them, for a book he planned to write about the traits and approaches to business that united those captains of industry.
The book never happened, but those talks stuck with him. They informed how he approached the world after school and while building his company.
Today, Palatine holds some $1.6 billion in assets in real estate markets across the country, with main offices in Miami and New York City. And while the firm’s proverbial bread and butter is lower-middle market property investments, its most valuable asset, he said, is its people.
“Making good investments, being involved in exciting deals, isn’t what gets me charged up,” he said. “It’s the talented, committed people who are involved in the business, who have decided to stake their professional ambitions on what we do here.”
Mr. Hurst spoke by phone with reporter Jesse Scheckner.
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