Real Estate Acquisitions
Paragon’s real estate acquisitions platform focuses on investing alongside a select group of strong, repeat operating partners to acquire properties or portfolios ranging in size from $20-$100 million. Our real estate equity portfolio reflects Paragon’s capital preservation and consistent yield orientation, placing a strong focus on stabilized, cash flowing assets that typically represent a core-plus risk profile. Paragon’s flexible capital base allows us to underwrite and own assets with a long-term investment horizon. Our existing portfolio is comprised of industrial, office and medical office, multifamily, and self-storage properties.
Medical Office | Pittsburgh, PA
Esmark Center
Multifamily | Mesa, AZ
Urban Trails
Office | Phoenix, AZ
3900 Camelback Center
Multifamily | Mesa, AZ
Westmount at the District
Medical Office | Pittsburgh, PA
Heritage Valley Monaca Township
Multifamily | Lancaster, PA
The Bradford
Industrial | Midland, TX
Midland Warehouse Portfolio
Industrial | Twinsburg, OH
Amazon Regional Sortation Center
Office | Malvern, PA
ArborRidge Office
Industrial | Whitewater, WI
Golden State Foods Facility
Office | Greenwich, CT
411 West Putnam
Self Storage | Columbus, OH
Columbus Self Storage Portfolio
Industrial | Midland, TX
Midland Industrial Portfolio
Self Storage | Michigan
Michigan Self Storage Portfolio
3900 Camelback Center
Acquisition of a 177k SF office building in Phoenix, Arizona
- In November 2019, Paragon acquired a LEED Gold Certified, Class A office building located in the Camelback Corridor submarket of Phoenix alongside a West Coast operating partner
- The property is fully stabilized and is underwritten to generate a double-digit levered cash yield
Urban Trails
ACQUISITION OF A 156-UNIT MULTIFAMILY ASSET IN MESA, ARIZONA
- In September 2020, Paragon acquired its second Class B garden style multifamily property in the Phoenix MSA
- The property will undergo a value-add capital improvement and unit renovation program to capitalize on the strong market momentum
Westmount at the District
Acquisition of a 154-unit multifamily asset in Mesa, Arizona
- In October 2019, Paragon acquired a Class B garden style multifamily property in the Phoenix MSA with a regionally focused multifamily operating partner
- The property is underwritten to generate attractive cash yields while undergoing a value-add capital improvement and unit renovation program
Heritage Valley Monaca Township
Acquisition of a 59k SF medical office building in Pittsburgh, Pennsylvania
- In October 2019, Paragon acquired a recently constructed, build-to-suit medical office building in the Pittsburgh MSA alongside a repeat operating partner
- The property is 100% leased to an investment grade health system and underwritten to generate a double-digit levered cash yield
The Bradford
Acquisition of a 238-unit multifamily asset in Lancaster, Pennsylvania
- In October 2018, Paragon acquired a Class B garden style multifamily asset in Lancaster, Pennsylvania in conjunction with a Mid-Atlantic focused vertically integrated, multifamily operating partner
- The property is underwritten to generate a high-single digit levered cash yield
- The Property was sold in May 2021, generating a 30.1% IRR and 1.85x MOIC
Midland Warehouse Portfolio
Acquisition of a 13-property industrial portfolio in Midland, Texas
- In April 2018, Paragon acquired a portfolio of 13 single-tenant, triple net leased industrial warehouses in West Texas with a repeat operating partner based in Midland, Texas
- The portfolio is underwritten to generate a double-digit levered cash yield
Amazon Regional Sortation Center
Acquisition of a 248k SF industrial warehouse in Twinsburg, Ohio
- In March 2017, Paragon acquired a Class A industrial property 100% leased to Amazon and utilized as a sortation center in the Cleveland MSA alongside a repeat operating partner
- The property is underwritten to generate a high single-digit levered cash yield
ArborRidge office
Acquisition of a 129k SF office property in Malvern, Pennsylvania
- In October 2016, Paragon acquired a Class A office property in the Philadelphia MSA in conjunction with a local operating partner
- The property is underwritten to generate a double-digit levered cash yield
Golden State Foods Facility
Acquisition of a 100k SF industrial warehouse in Whitewater, Wisconsin
- In September 2016, Paragon acquired a Class A, mission-critical freezer-cooler distribution facility 100% leased to Golden State Foods (now leased to Martin Brower), in conjunction with an operating partner
- The property is 100% leased and underwritten to generate a high single-digit leveraged cash yield
411 West Putnam
Acquisition of a 100k SF office property in Greenwich, Connecticut
- In September 2016, Paragon acquired a Class A office property in Greenwich, Connecticut in conjunction with an office-focused operating partner
- The property is underwritten to generate a high single-digit levered cash yield
Columbus Self Storage Portfolio
Acquisition of a four facility self-storage portfolio in Columbus, Ohio
- In October 2015, Paragon acquired a four-property self-storage portfolio comprised of ~2,500 self-storage units alongside a repeat operating partner
- The portfolio is underwritten to generate a double-digit leveraged cash yield
Midland Industrial Portfolio
Acquisition of a 15-property industrial portfolio in Midland, Texas
- In September 2014, Paragon acquired a portfolio of 15 single-tenant, triple net leased industrial warehouses in West Texas in conjunction with a Midland-based operating partner
- The property is underwritten to generate a double-digit levered cash yield
Michigan Self Storage Portfolio
Acquisition of a 12-facility self-storage portfolio across Michigan
- In August 2014, Paragon acquired a 12-property self-storage portfolio comprised of ~900k SF of rentable square feet across ~6,200 self-storage units, in conjunction with a vertically integrated operating partner
- The portfolio was sold in January 2020, generating a 29.5% IRR and 2.8x MOIC
Esmark Center
ACQUISITION OF A 40K SF BOUTIQUE MEDICAL OFFICE BUILDING IN SEWICKLEY, PENNSYLVANIA
- In May 2021, Paragon acquired a Class A boutique medical office building and Starbucks ground lease located in the Pittsburgh MSA alongside a repeat operating partner
- The property is fully stabilized and is underwritten to generate a double-digit levered cash yield