News
Los Angeles, Calif. (October 26, 2023) – Foundry Commercial, a full-service commercial real estate company, today announced that Austin Maddux has joined the company as Executive Managing Director, Investment Management, based in Los Angeles. As Executive Managing Director, Maddux is responsible for leading and growing the firm’s investment management platform for institutional and accredited individual investors.
“We’re thrilled to bring on Austin in this new capacity to launch Foundry’s investment management business within our overall platform,” said Pryse Elam, Chief Investment Officer and President of Development & Investments for Foundry Commercial. “To support our growth plans, Austin will focus on enhancing value for Foundry’s investor clients, customers, associates, and the communities in which we operate by building our investment management business in a complementary fashion to our current joint venture acquisition and development, and third-party property services businesses.”
Maddux brings over 15 years of experience to this new role. Prior to joining Foundry Commercial, he was a Managing Director, Co-Portfolio Manager at American Realty Advisors focused on ARA’s largest commingled fund. He shared responsibility for all components of fund management including the development and implementation of portfolio strategy, investment composition including acquisition and disposition activities, financing, property operations, and fund data analytics, in addition to serving a key role in client service and client reporting efforts. Maddux also served as the chairman of ARA’s ESG+R Committee.
Before joining ARA, Maddux was an Acquisitions Vice President with Clarion Partners responsible for sourcing, evaluating, structuring, and closing new investments throughout the western U.S. Prior to that, he served as a Real Estate Investment Banking Analyst in New York with RBC Capital Markets, a subsidiary of the Royal Bank of Canada, focused on advisory and capital raising.
“I am thrilled to be joining the team at Foundry Commercial, whom I have known for over six years having invested in joint ventures with them at my prior company. Foundry’s entrepreneurial company culture resonates strongly with me. Our goal is to offer clients compelling risk-adjusted returns by combining a first-class investment fiduciary with its national perspective, governance risk controls, and institutional reporting with leading local investment-level execution in a vertically integrated investment manager. We are well positioned to create value by sharing our market and investment expertise with financial professionals, intermediaries, partners, and clients,” said Maddux.
He continued, “At Foundry we only play ‘home games’ by investing in markets where we have a local presence. We operate in leading property types within the growth markets of the U.S. By expanding our investment management activities, we strengthen our entire platform, providing even more ways to serve and grow.”
Maddux received his bachelor’s degree from Arizona State University, and also earned his M.B.A. from the University of Southern California’s Marshall School of Business. He is a ULI national product council chair focused on industrial and office properties. He is the President of real estate industry charity group Building Hope at City of Hope, a top-10 nationally ranked comprehensive cancer hospital. He also serves as an Adjunct Professor at the University of Southern California’s Sol Price School of Public Policy teaching finance and investment to graduate and undergraduate students. He has earned his LEED Green Associate designation and is also a Fitwel Ambassador.