November 30, 2020
Paxion Capital, based in Menlo Park, CA, is acquiring a significant stake in Houston-based investment and development firm Patrinely Group. Paxion’s co-founders, Jim Davidson and Fritz H. Wolff, along with Len O’Donnell, CEO of USAA Real Estate, are also investing in the transaction. Deal terms weren’t disclosed.
Patrinely Group’s executive leadership team will remain in place. The company will continue operating under its current name and maintain headquarters in Houston.
The new alignment with Paxion and its affiliates will mean a shared focus on the intersection of real estate and technology for Patrinely Group.
“I could not be more enthusiastic to join forces with Len, Jim and Fritz,” said chairman Dean Patrinely. “Over Patrinely Group’s 37-year tenure, we have established a strong foundation for the future with a robust national pipeline. This strategic partnership is a once in a lifetime opportunity for Patrinely Group to take a quantum leap forward.”
For comments, questions or concerns, please contact Paul Bubny