Praelium Commercial Real Estate

What Praelium Commercial Real Estate does

Praelium Commercial Real Estate is a privately held commercial real estate investment and advisory firm founded in 2015 and headquartered in Corona Del Mar, California. The firm operates as an owner-operator of institutional-quality office properties, with stated geographic concentration in select markets in the Southeast and Western US. Its portfolio currently includes 817 State on the Paseo (Santa Barbara, CA), 70 & 90 Castillian (Goleta, CA), Coliseum Centre CLT and Three Resource Square CLT (Charlotte, NC), Marietta Technology Center (Marietta, GA), Axis Point at Stoneridge (Pleasanton, CA), and the recently acquired 17-building Tech Park @ Goleta portfolio (733,497 sq ft, acquired for $235M in April 2026). The 817 State and Axis Point at Stoneridge assets are undergoing comprehensive mixed-use repositioning from prior office and retail uses, respectively.

The firm's investment thesis is to identify "talent cluster" submarkets — geographies anchored by high-quality employers and research institutions that generate durable leasing demand — and acquire assets with "financial or operating issues which, when rectified, will create a stabilized investment with broad appeal to institutional buyers." Pricing and underwriting are described as "research-guided and data-driven," with deal-level performance assessed via IRR, equity multiple, and leveraged/unleveraged return on cost. The company is founder-led, with Founding Principal Scott San Filippo (30+ years, $5B+ career volume; ex-Greenlaw Partners, Crown Realty & Development) and Principal Partner Joey Hanen (30+ years, $4B+ career volume; former SVP Acquisitions/Dispositions at Kilroy Realty, NYSE: KRC) anchoring the senior team, supported by partners with backgrounds at Wells Fargo Real Estate Banking, PwC, RMR, Macerich, and Four Seasons/Ritz Carlton.

Praelium's revenue model is anchored in recurring rental income from owned commercial properties (subscription/recurring stream) supplemented by advisory and repositioning fees across the investment lifecycle. Leases are negotiated bilaterally at quoted rates (e.g., $3.50/NNN at 817 State) on a monthly billing cadence. The firm maintains an investor portal for institutional and high-net-worth capital partners; major disclosed financing relationships include Blackbird Investment Group, HIG Capital, and Starwood Property Trust, which collectively provided the $153.5M senior debt facility for the Tech Park @ Goleta acquisition. Distribution is conducted through direct enterprise leasing to corporate tenants (with defense, aerospace, and technology firms including Lockheed Martin, Curvature, and Umbra Space serving as named anchors in the Tech Park @ Goleta portfolio), supported by property brochures, a company website, and a LinkedIn presence.

Name

Praelium Commercial Real Estate

Legal name

Praelium Commercial Real Estate

Website

https://praelium.com

Company type

Private

Founded year

2015

Operating status

Operating

Headcount range

1–10 employees

Short description

Praelium Commercial Real Estate is a privately held, owner-operator of institutional-quality office properties in select Southeast and Western US "talent cluster" markets, specializing in acquiring and repositioning operationally challenged assets into stabilized institutional investments.

Ownership category

akta.pro rank

Product category

Commercial Real Estate Investment

NAICS

Lessors of Real Estate (5311), Nonresidential Property Managers (531312), Lessors of Other Real Estate Property (53119)

SIC

Real Estate Dealers (For Their Own Account) (6532), Lessors Of Real Property, Nec (6519), Operators Of Nonresidential Buildings (6512)

akta.pro primary industry

Commercial Real Estate Asset Management (BPAJAMAB)

akta.pro secondary industries

Real Estate Development Asset Management (Project/Construction-to-Stabilization) (BPAJAMAL), Real Estate Capital Markets Advisory (Debt/Equity Placement, Refinancing) (BPAJANAE)

Keywords

• Commercial real estate investment
• Office property ownership
• Value-add repositioning
• Institutional property acquisition
• Real estate advisory services

Headquarters

HQ city

Irvine

HQ country

United States

HQ region

North America

Offices6 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Marketing or Sales, Infrastructure, Others

Revenue model

1. Commercial Property Rental Income: Revenue generated from leasing office, industrial, and R&D properties to tenants, creating stabilized income streams from institutional-quality commercial real estate assets.

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels4 records

Core offering

Praelium Commercial Real Estate is an owner and operator of institutional-quality office, industrial, and R&D properties in select Southeast and Western US markets. The firm identifies, develops, repositions, and owns commercial real estate assets, including entitlement and redevelopment of infill land, then leases space to enterprise tenants and sells stabilized assets to institutional and high-net-worth investors. Core offerings include direct property leasing, value-add property repositioning, and real estate investment advisory services.

Product overview

Praelium Commercial Real Estate is an owner/operator of institutional-quality office properties located in select markets in the Southeast and Western US. The company's product portfolio consists of commercial real estate assets across multiple markets, including the flagship 817 State on the Paseo mixed-use development in Santa Barbara, CA; Coliseum Centre CLT and Three Resource Square CLT in Charlotte, NC; Axis Point at Stoneridge in Pleasanton, CA; 70 & 90 Castillian in Goleta, CA; Marietta Technology Center in Marietta, GA; and the recently acquired Tech Park @ Goleta 17-building portfolio. The company specializes in identifying, developing, repositioning, and owning properties, as well as entitlement and redevelopment of infill land in select growth markets, using a research-guided, data-driven investment approach.

Differentiator

Problem solved

Functional benefit

Products and services

• 817 State on the Paseo Historic three-story Spanish-style mixed-use property in Santa Barbara's Paseo Nuevo district, undergoing transformation into a residential, office, retail, and restaurant hub totaling 165,642 SF.
• Coliseum Centre CLT

Named customers3 records

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• Majestic Asset ManagementminorOthersAgoura Hills-based seller that assembled the 17-building Tech Park @ Goleta portfolio between 2018 and 2022. Praelium acquired the portfolio from Majestic in a recapitalization sale for $235 million.

Scale indicators10 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• Kilroy Realty Corporation: NYSE-listed REIT (KRC) focused on Class A office and life-science properties on the US West Coast and Greater Boston. Highly comparable to Praelium in target asset class and talent-cluster strategy; Joey Hanen was formerly SVP of Acquisitions/Dispositions at Kilroy.
• RMR Group: Public REIT management and advisory firm overseeing a large diversified commercial real estate portfolio. Comparable as a capital partner and operator in the office/industrial space; Matt Gambetta previously worked with RMR.

Direct peers

• Greenlaw Partners: Irvine-based commercial real estate investment and management firm focused on office, industrial, and mixed-use assets in the Western US. Directly comparable as Scott San Filippo was previously a Partner there, indicating overlapping strategy, geography, and deal sourcing.
• Majestic Asset Management: Agoura Hills-based private real estate investment manager that assembled and sold the 17-building Tech Park @ Goleta portfolio to Praelium. Comparable as a similarly-sized value-add operator targeting Southern California commercial assets.
• BECO Management: Commercial real estate owner and operator focused on office and mixed-use assets, including large campus-style properties such as Innovation Park in Charlotte. Comparable in targeting institutional-quality office assets in growth markets; Rebecca Shrum previously led leasing there.
• Crown Realty & Development: Commercial real estate investment and development firm operating office, industrial, and retail assets. Direct peer given Scott San Filippo was previously COO/Investment Officer and shares a similar Western US, value-add institutional-quality focus.

Regional players

• HIG Capital (Real Estate): Global private equity firm with a dedicated real estate platform providing debt and equity capital for commercial real estate transactions. Comparable as a financing partner for value-add office and industrial deals; co-financed the $235M Tech Park acquisition with Praelium.
• Starwood Property Trust: NYSE-listed mortgage REIT focused on commercial real estate debt and equity investments. Comparable as a large-scale capital partner for institutional-quality office acquisitions; co-financed Praelium's $235M Tech Park @ Goleta acquisition.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/71308277/admin

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Praelium Commercial Real Estate