Palmatum Ventures targets opportunistic real estate investments across three primary markets — Austin, Salt Lake City, and Atlanta — as well as select relationship-driven markets nationally.
Palmatum Ventures was founded in 2025 by Michael Provost. It continues to maintain an interest in its affiliate Serpa Partners (www.serpapartners.com).
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Austin, TX · 270,000 RSF · September 2026
515 Congress Avenue is a 270,000 RSF Class A office building located at the corner of 6th Street and Congress Avenue featuring flexible floorplates and unencumbered views of Downtown Austin. It was acquired in September 2026 from KBS in a partnership with Aquila Operating Partners and Glendon Capital Management.
Austin, TX · 286,000 RSF · November 2025
Cielo Center is a 286,000 RSF Class A office campus located in Austin’s West Lake Hills with sweeping views of downtown. It was acquired in a lender-driven transaction in November 2025 by Palmatum, via its affiliate Serpa Partners, in a joint venture with Aquila Operating Partners and capitalized with private capital.
Founder
Prior to founding Palmatum Ventures, and its affiliate Serpa Partners, Michael Provost spent over 17 years at DivcoWest, most recently as Senior Managing Director overseeing investments in the Southwest as well as select transactions nationwide. Over that time, he resided in Boston, San Francisco, Austin, and Los Angeles. He oversaw acquisitions totaling approximately $1.2 billion of equity over 50 transactions that totaled $8.5 billion of consideration over 6 MM RSF. He is a graduate of Williams College and presently resides in Park City, UT and Atlanta, GA.