For more than 20 years, Paragon Properties has focused its attention and resources on office, industrial, commercial and retail projects in the southwestern United States. Our game plan calls for “opportunity” purchases of properties in the $2 million to $50 million range where there is abundant deal flow and where Paragon can operate under the radar of the big publicly traded REITs.
We find many of these lower-middle-market deals are created by bank foreclosures, mismanagement, regional/industry downturns or as a result of general market conditions. Paragon, through its extensive network of bankers, mortgage and real estate brokers may, in many cases, get a first look at an investment before it is publicly listed.
Properties purchased at a significant discount-to-replacement value are then refurbished or redesigned to accommodate the demands of the current marketplace.