Sale & Leaseback : Tech Industry

Vienna, Austria

Sale & Leaseback with PKE (Philips)

Mike Wolfson led lease negotiations with the anchor tenant, PKE, a spin-off of Philips. At acquisition, the building was mostly occupied by PKE but there were a handful of third party tenants, and the entire 3rd floor was vacant. It was possible to argue at the time that PKE’s rent was slightly above market, and therefore, the lease negotiations were complex.

The result of a long and arduous negotiation was that occupancy increased from 75% at acquisition to 100% within the first year of ownership, and the lease duration was pushed from approximately 6 years to 10. We were able to achieve this by finding win/win solutions with PKE that included some free rent and improvements to the space in exchange for a longer term lease.

The building was sold to Credit Suisse Asset Management in 2008 at a significant profit.

LinkedIn
Email

View more transactions

PARA-BOX : Mixed-Use “Boxes”

Coppet, VD, Switzerland

Paragon has built a storage building with 13 flexible “boxes”, in the…

Value-Add CBD Office Building

Lausanne, VD, Switzerland

This property was being quietly marketed in 2010 so as to avoid…

Repositioning of Major Business Park

Satigny, GE, Switzerland

Agie Charmilles, the seller, is a company owned by the listed Georg…

Multi-Tenant Light-Industrial Building

Meyrin, GE, Switzerland

After having purchased Bacardi’s former European HQ in 2017, Paragon acquired in…

Sale & Leaseback : Oil & Gas Industry

Lausanne, VD, Switzerland

The intention was to create a more valuable asset, by having Agip…

Repositioning of Vacant Office Building

Meyrin, GE, Switzerland

Paragon acquired the Bacardi administrative building measuring 1’510 leasable square meters, on…

Residential Development Swiss Border

Divonne, France

Paragon has secured adjacent land parcels ideally located in Divonne, France, on the…

Sale & Leaseback : Watch Industry

Meyrin, GE, Switzerland

Paragon continues to add to its portfolio with the latest acquisition of…

Chalets Development in the Swiss Alps

Nendaz, VS, Switzerland

The idea of the venture took root thanks to the popularity of…