Paragon Properties, Ltd. was founded in Colorado Springs in the early 1980s. While retaining its Colorado office, Paragon moved its headquarters to Carefree, Arizona.
For 25 years, the company has focused on investing and developing land and buildings where there is an excellent opportunity to create value for both the firm and its investors. We place a high value on integrity and earning the trust of our investors and partners. Because of this, we have garnered a long-term reputation for honesty and fair-dealing throughout the region and industry. Because of our reputation with an extensive network of bankers, mortgage and real estate brokers, Paragon may, in many cases, get a first look at an investment before it is publicly listed.
Paragon focuses its 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. As an example, during 2004, deals ranged from $2 million to $15 million, with investment returns in the range of 35%.
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. Properties purchased at a significant discount-to-replacement value are then refurbished or redesigned to accommodate the demands of the current marketplace.
The Paragon criteria for success requires the following elements:
Investment in distressed properties where Paragon's expertise can perform a physical and economic turn-around. Investments of opportunity where Paragon's experience and market knowledge can transform bare land or a non-performing building into a highly successful commercial, industrial, office or retail project. Access to an established network of investors, bankers, real estate brokers, architects, engineers and contractors who can "think outside the box", meet deadlines and provide a quality product. That the project generate a fair return for its' investors – less–ZoomInfo