As we close 2025, it’s worthwhile to reflect on another transformative year for Paragon SA. In a complex environment shaped by geopolitical uncertainty, evolving capital markets, and structural change in real estate, our team remained focused, disciplined, and entrepreneurial. Thanks to the continued trust of our partners and investors, and our more experienced team, Paragon is entering 2026 with strong momentum and improved foundations.
Executing with Discipline
2025 was a year of execution. We expanded our Swiss real estate footprint with the acquisition of a commercial asset in the Lausanne suburbs and completed the purchase of a second shopping center in Geneva, reinforcing our presence in Switzerland’s most dynamic urban markets.
We also entered into a strategic partnership with a leading residential construction company, strengthening our ability to originate, develop, and deliver projects efficiently across the value chain in residential real estate. In parallel, we won the legal challenges to our Chambesy project at the 1st and 2nd level Cantonal courts, and are now expecting the final granting by the Federal Tribunal of the building permit for two high-end residential buildings in that will begin construction this year.
From Investor to Operator
A key milestone in 2025 was the launch of our first ParaBox Self Storage facility in central Geneva, steps from Cornavin train station. This flagship opening, the largest in Geneva with over 400 units, marks Paragon’s evolution as an owner-operator, combining real estate expertise with operational execution. Early market response has been strong, confirming our conviction in urban self-storage as a resilient, demand-driven business. We love the business, the technology, and the challenge and plan on opening at least one more site in 2026 as we are very excited about this business.
Macroeconomic Context and Opportunity
Global uncertainty and shifting trade dynamics continue to support safe-haven currencies, reinforcing the outlook for structurally low interest rates in CHF. At the same time, tighter banking regulation and Basel III implementation are reshaping access to traditional financing. We see this as a structural opportunity for alternative capital solutions, including private debt, structured equity, and sale-and-leaseback transactions, all areas where Paragon has built recognized expertise. Switzerland’s strong currency also provides a solid platform for selective international expansion. Alongside continued activity in Canada, we are actively exploring opportunities in the UK and France, countries where we have some experience already.
People, Culture, and Community
Our people and our culture are the reasons we perform so well. In 2025, we continued to grow and remain actively engaged in recruiting the right kind of mentality to add to our team. Our culture: entrepreneurial, demanding, collaborative, fun, and balanced, is central to our performance. Talented professionals seeking to invest, build, and grow alongside an experienced team are encouraged to connect with us.
Our social and networking events in 2025 were a great success and we are pleased to once again host the Paragon Cup Golf Tournament and the Paragon After-Work Raclette in 2026, informal moments that bring together partners, peers, and friends around shared interests and relationships.
Looking Ahead
As we enter 2026, our focus remains clear: disciplined growth, selective risk-taking, and long-term value creation. With a strong platform, a motivated team, and a clear strategic compass, Paragon is well positioned to turn complexity into opportunity. We thank our partners and investors for their continued trust and look forward to building the next chapter together.
