Canyon Catalyst Fund Forms Joint Venture with Paragon Commercial Group

by Nate Hunter

Los Angeles — Paragon Commercial Group’s investments will result in $60 to $100 million in retail property acquisitions.

Los Angeles — The Canyon Catalyst Fund has entered into a joint venture with Los Angeles-based Paragon Commercial Group, which will result in $60 to $100 million in retail property acquisitions in urban markets throughout California. Paragon Commercial Group specializes in developing and redeveloping retail centers with a focus on infill and high barrier to entry submarkets.

The Canyon Catalyst Fund is a new joint venture between Canyon Capital Realty Advisors and the California Public Employees’ Retirement System (CalPERS). The $200 million fund, which will facilitate $400 million of investments, is designed to identify early stage real estate managers with strong potential for success. Canyon provides direct oversight of investment sourcing, selection and deal structuring, in addition to overseeing asset management to final realization.

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