Headquartered in Cleveland, Ohio, Paran was founded by Joseph Shafran and Ricardo Paris, and incorporated in Curacao in 1974. The company was created to acquire and manage commercial and residential property in Ohio and 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, Middletown Shopping Center, in 1977. Over the years, Paran identified the 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 while striving to maximize the performance of each project and providing strategic opportunities for stakeholders.