Sale & Leaseback with Agenhor SA
Paragon continues to add to its portfolio with the latest acquisition of a property located at 6 Emma Kammacher, in Meyrin, Geneva. This latest sale and lease back transaction contributes to Paragon’s goal of acquiring and developing free-hold parcels located in the vicinity of the ZIMEYSA neighborhood where we have been very active over the last 10 years. The 3’000m2 parcel currently hosts a beautiful building of approximately 1’200 rentable meters, built and occupied by the watchmakers of Agenhor SA. The building was designed to be ultra-ecological, and extremely comfortable to encourage out-of-the-box thinking by tenants and has been a wonderful architectural success.
The zone where it is located has been selected by the FTI (state of Geneva) to be densified for industrial/commercial buildings, and it is possible to add over 8’000 meters of rentable area on the existing site in the future. Paragon has succeeded in doing another land-banking deal with a decent annual coupon, in a strategic location, and looks forward to adding more similar properties to its portfolio in the near future.
