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Ashforth Paradigm Makes First Investment in Sports Facilities

LEXINGTON, MA-Ashforth Paradigm Capital Advisors, which was launched earlier this year as a partnership between the Ashforth Co. and Paradigm Properties, makes its first investment. The firm acquired two sports club facilities in Lexington and Franklin for $10.3 million.

By Naomi Grossman | Updated on June 21, 2004

LEXINGTON, MA-Ashforth Paradigm Capital Advisors acquired two sports club facilities in Lexington and Franklin for $10.3 million. The deal is the newly formed firm’s first investment.

Ashforth Paradigm was launched earlier this year as a partnership between the Ashforth Co., a Stamford, CT-based real estate firm, and Paradigm Properties LLC, a Boston-based real estate investment and management firm. The real estate investment advisory firm caters to affluent individuals and family offices.

The two properties acquired by Ashforth Paradigm in Greater Boston are net leased through June 2015 to subsidiaries of Town Sports International, the largest fitness center owner in the Northeast. The Lexington Club is a 70,000-sf facility situated on a nine-acre parcel at the intersection of Route 128 and Route 225. The Franklin Club is a 30,000-sf facility situated on a nearly six-acre parcel just off Route 495 in Franklin.

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