About Us

Paragon SA is a real estate firm which provides investment services to private and public equity vehicles focused on real estate and real estate-related endeavors principally in Switzerland. Paragon works with investment partners to identify, asset manage, and operate properties. We are a one-stop shop with expertise in finance, leasing, insurance, redevelopment, construction and building operations.

Paragon also specializes in tenant representation, third party asset management, and brokerage in commercial real estate. Paragon executives are multi-lingual and multi-national and benefit from an international approach to corporate culture combined with a local presence and expertise in local markets. In particular, through the experience of its chief executive, Paragon SA is able to transfer some of the successful approaches pioneered in the US real estate market to a European context.

Paragon's key strengths lie in distressed opportunities, underperforming and undervalued assets and value creation opportunities. Investments include single assets, portfolios, joint-ventures and real estate development, as well as real estate-related loans and debt instruments. We canvas retail, logistics, office, industrial, as well as senior and student housing opportunities.

Note from the CEO

As 2019 is now visible in the rear-view mirror, we can reflect on how this year has paved the way smoothly towards an exciting new decade. In 2019, Paragon SA continued to execute its strategy and enjoyed some key successes:

In Switzerland, most experts have reached the consensus that the BNS will maintain its monetary policy and we will continue to see negative interest rates for the next year at least, following the lead of the BCE and the FED. Despite these rates, there continues to be an inflow of new capital to Switzerland seeking a safe alternative to the euro and the dollar.  Swiss institutional investors continue to be forced to invest in real assets as much as possible to avoid the costs of keeping cash and this will maintain pricing pressure on core real estate.  As the external drivers push real estate prices higher, non-institutional investors seek alternative investments. Paragon has always been a value-added investor and, in these difficult market conditions, we have widened our geographical scope in order to identify safer assets and avoid investing at inflated valuations.  Our main focus is on finding existing under-valued properties and giving these buildings a second life, thanks to creative asset management and development strategies.

Despite high salaries and a strong swiss franc, the new harmonized tax rate across the country of between 12% and 14% for both corporate and capital gains taxes mean that Switzerland is not standing still and is replicating what Ireland has done in the recent past by trying to attract foreign companies with a combination of high living standards, low corporate taxes, skilled labor, excellent universities, and first-rate infrastructure.  Economists have argued that the labor market is strong in Switzerland also thanks to the baby boomers making way for the younger generations, and the purchasing power of the average consumer is still better than in neighboring countries.  The market fundamentals in Switzerland are still strong and we expect to be able to continue to find credit-worthy tenants for our properties.

In Geneva, 2020 kicks off with the opening of the local new transportation line called the Leman Express.  This new infrastructure offers far greater mobility in the greater Geneva area and connects Geneva to cities in France like Annecy, Annemasse, and St Gervais, as well as improving inner-city mobility. Paragon is capitalizing on the renewed interest in France-Voisine with its project to develop 32 apartments in Divonne in partnership with EDIFIM, an experienced French developer.  We continue to look for new investment opportunities in France, as there are definite opportunities for those with the ability to operate across the border.

We remain enthusiastic about our business and look forward to growth in 2020.  Our main target is to identify and acquire new value-added assets in the Geneva and Swiss-Romande region, but we also will keep an eye on what is possible in the UK, France, and Canada with a view on diversifying our geographical exposure. In the meantime, we have exciting new projects to work on locally and we look forward to working with our established and trusted partners on growing our businesses together.

                        

                                                                                                                 Mike WOLFSON

About

Top