Paragon acquires the iconic Romanel Centre shopping mall
Paragon continues to pursue its value-creation strategy through targeted acquisitions. The latest: Romanel Centre, a shopping mall well known to Lausanne residents, located along a major traffic axis. Partially vacant, the site represents a promising opportunity, with significant potential for repositioning.
A Clear and Well-Structured Opportunity
“Romanel Centre presented an unusual profile: some vacancy, of course, but enormous potential thanks to its strategic location,” explains Yan Grandjean, CIO of Paragon. “We structured the acquisition with our banking partner in order to secure the necessary investments to restore the site’s full value.”
Located just outside Lausanne, with excellent road access and a densely populated catchment area, the center offers strong fundamentals for a successful repositioning.
“Smooth Collaboration Between the Parties”
Vincent Leroux, Head of Capital Markets of CBRE French-speaking Switzerland and advisor to the seller, praised the quality of the process:
“Paragon acted quickly and profesionnally. Collaboration between the parties was smooth. I’m pleased to see this iconic regional property gaining a new lease on life to better serve the local community.”
The Seller’s perspective
For Claudio Sani, Head of Acquisition and Sale French-speaking Switzerland at SPS, the priority was to find a buyer capable of supporting an ambitious project while ensuring disciplined operational management: “Paragon quickly demonstrated a deep understanding of the site’s potential. Our exchanges were constructive, and the deal was closed within an optimal timeframe.”
A New Beginning for Romanel Centre
Arthur de Rivoire, Head of Asset Management at Paragon and project lead, outlines the roadmap:
“We’re addressing structural shortcomings, particularly by improving access to upper floors. Current and prospective tenants are actively involved in discussions, each contributing to the new energy we aim to bring to the site.”
Redevelopment began during the acquisition phase, with a clear goal: to enhance the customer experience while meeting the needs of tenant businesses.
A Long-Term Vision
For Mike Wolfson, CEO and founder of Paragon, this acquisition perfectly reflects the group’s DNA:
“The acquisition of Romanel Centre illustrates our approach: identifying underutilized assets, transforming them, and creating lasting value with all stakeholders.“
