Principles: We are a company driven by principle.

Attitude: We are always positive, even when things may seem difficult.

Reach: We seek tenants from a wide network. Our reach is extensive.

Accountability: We hold our tenants, our developers, our investors and ourselves accountable to our core mission.

Neighborhoods: We are about building community and revitalizing neighborhoods.

Paran History

Headquartered in Cleveland, Ohio, Paran was founded by Joseph Shafran and Ricardo Paris, and incorporated in Curacao. It was created to acquire and manage commercial and residential property in Ohio and its contiguous states.

As a young man, after spending time overseas, Joe moved back to his hometown. His entrepreneurial spirit led Paran to purchase its first property in 1975. Over the years, Paran identified a need for communities to grow through thoughtful real estate development and responsible property management. Paran currently owns and manages commercial, residential and hotel properties totaling more than 1.27 M SF of commercial space, 514 apartment units and 133 hotel rooms.

The team has grown substantially since the first days of Paran. The company currently employs a strong leadership team that is committed to projects that grow and revitalize communities. It works tirelessly with stakeholders – including city officials, businesses, institutions, and citizens – to amplify the potential of retail, multi-family and hotel properties; striving to maximize the performance of each project, while providing strategic opportunities for stakeholders.

Paran History

Our Leadership

Each member of our team is a dedicated expert in their respective field and is committed to providing the
highest levels of service for our owners, investors, clients, tenants and residents.


Kathleen T. Stiokis

Kathleen T. Stiokis (CIT) joined the staff of Paran Management Co. LTD. in May of 1995 as Director of Construction and Property Management.  She also directs and coordinates the projects for the Paran’s multi-family locations in Cleveland, Akron and Findlay, Ohio. She also directs and coordinates the projects for the Paran’s Multi Family locations in Cleveland, Akron and Findlay, Ohio.

Prior to joining Paran Management, Kathleen worked for 10 years with a Cleveland general contracting company as a Project Manager.

Kathleen is currently serving on the Executive Board for the Parma Area Chamber of Commerce.  Trained through the Parma Fire Department, is currently and active Board member for the Community Emergency Response Team CERT.  She is also a member of NAWIC – National Association of Women in Construction and a Clemson University Construction Industry Technician (CIT).

Joe D.

Joe Del Balso

Joe Del Balso is an industry veteran with over 20 years of experience in the commercial real estate industry. As Director of Leasing for Paran, Joe has notably managed and leased a portfolio in excess of 1,800,000 SF. Joe is proficient in site selection, lease analysis, lease negotiations, construction analysis, disposition, development and tenant relations. He is known for his excellent relationships, responsiveness and analytical approach of bringing landlords and tenants together. Joe believes that his commitment to strong landlord-tenant relationships is critical to tenant service and retention.

Prior to joining Paran, Joe was self-employed in the retail printing and graphic design industry. Such background not only contributed towards his knowledge of sales and management, but provided insight and perspective of being a retail tenant and understanding the needs of tenants.

Joe is a 1998 graduate of Cleveland State University with a Bachelor of Business Administration with a major in Marketing.

Professional Affiliations:

  • International Council of Shopping Centers (ICSC)
  • Licensed Real Estate Broker in Ohio

Scott P. Jacobs

Scott P. Jacobs directs all real estate Development and Acquisition activities at Paran from concept through execution. Two of his more prominent projects include the redevelopment of a historic structure, located on the University of Akron main campus, into a 73 room boutique hotel and the redevelopment of a mixed-used project located in historic Shaker Square, Cleveland, OH. In addition he oversees all of the company’s new investment activities. Under his direction, the Company continues to grow its investment portfolio of commercial, multi-family and hospitality properties.

Prior to joining Paran in September of 2018, Scott worked for 7 years at KeyBank in corporate real estate as the Head of Site Acquisition overseeing, nation-wide, the acquisition of properties in support of KeyBank’s retail growth strategy. In addition he served as a Relationship Manager acting as a liaison between Key’s Corporate Real Estate department and Key’s Executive Leadership developing and executing corporate real estate strategies in support of the KeyBank’s initiatives. He has also worked at several other real estate and finance organizations throughout his career; developing a diverse portfolio of experience and knowledge.

Education: BS from The Ohio State University with dual majors in Finance and Real Estate Urban Analysis


Mark J. Zielinski

Mark J. Zielinski is responsible for all support functions of the company, including accounting and information technologies. Mark is also actively involved in the areas of budgeting, cash management, finance, and management reporting.

Mark joined Paran in December of 1994. Prior to joining Paran, Mark worked as the Controller of a five-location, proprietary education operation, heading up both the accounting and human resource functions for the company. Mark also worked for The Andersons as an Accounting Manager in their Grain Group overseeing the accounting operations of several grain elevators.

Education: BS/BA from The University of Toledo in Accounting.

Joe S.

Joseph M Shafran

Joseph M Shafran, Chairman and Chief Executive Officer of Paran Management Company, Ltd., founded the company in 1975 with the objective of specializing in the rehabilitation of community shopping centers in small towns and cities in the Midwest. Under his guidance and vision, the company has grown to manage in excess of one-million square feet of commercial space in two states, multi-family apartments and boutique hotels.

In addition to his responsibilities at Paran, Mr. Shafran was a Founding Director of a commercial bank, and the developer of Glidden House, a boutique hotel, located in a restored 80-year-old mansion at University Circle in Cleveland. He is active in numerous professional and civic organizations, as well as an officer or trustee of several organizations, including University Circle, Inc., Cleveland Museum of Natural History and a local school board.

In 1967, Mr. Shafran received his B.S. in Economics from the Wharton School of the University of Pennsylvania.

Stephen M. Niksa

Stephen M. Niksa, President & Chief Operating Officer, leads strategic planning, organizational development, and property disposition/acquisition initiatives for Paran and is a member of the Executive Committee and Advisory Board. Steve has 30+ years’ experience working at Paran in various leadership positions including Controller, Treasurer, and CFO. At the start of his tenure, Steve established accounting systems and built performance metrics that enabled company growth and profitability. He has been instrumental in the acquisition of 20 shopping centers, 4 multi-family apartment complexes, and the development of a luxury boutique hotel – the Glidden House. In addition, Steve has closed $80M+ in loans with various lenders and negotiated significant savings in insurance and real estate taxes.

Education & Certification:

  • BBA in Finance – Kent State University
  • Certified Management Accountant (CMA) – National Association of Accountants

Community Engagement

The mission of Paran is to provide strategic capabilities for our stakeholders that inspire communities, accelerate tenant growth, create long term returns for investors and empower employees through shared values.  Paran feels a sense of responsibility to understand the needs and desires of the community in which it owns and operates property.  Paran believes that such understanding can be best gained by working directly with city officials, economic development councils, current tenants, outside businesses, financial and educational institutions, and local citizens.Through public and private partnerships, the company seeks to responsibly grow sustainable communities.

The purpose of Paran’s community engagement is to give every community the opportunity to discuss growth and economic development, and also to create a common understanding of what the community needs and values.

Paran continually examines how these values are supported by the policies and programs of the community and seeks to maintain a proper balance so that values are not misaligned or needs are insufficiently met.

Growing Communities