Credit Des Alpes of Geneva and Miami Asset Manager Parinvest Group Launch Avant-Garde Joint Venture

MIAMI, Sept. 21, 2012 /PRNewswire/ -- International investment banking group Credit des Alpes and Miami-based real estate brokerage and asset manager Parinvest LLC launched a joint venture designed to significantly bolster and expand both groups' client offering in leading markets across the United States.

Operating as a wholly owned subsidiary of U.S. investment vehicle Credit des Alpes Parinvest Corp., Parinvest Asset Management Inc. (www.parinvest.com) will provide residential and commercial property sales and asset management services mainly to foreign investors. The group will leverage Credit des Alpes' existing network of partners and proficiency in investor engagement to grow the real estate and property management services presently realized under Parinvest's proprietary business model, with operations also expanding to include the New York and Los Angeles markets.

Since 2007, the combined management team of Credit des Alpes and Parinvest Group has led numerous property transactions advising clients on the purchase of properties and hotel suites in Miami and Miami Beach in timely executions, producing highly profitable returns. The acquisition, which allocates 50 percent of Parinvest LLC's holdings to Credit des Alpes, provides a new window of opportunity for foreigners to invest in the U.S. real estate market, in particular to the growing Latin American client base.

Founded in 2003 by Christian Parth, Parinvest LLC stands today as one of the premier real estate brokerages and asset managers in South Florida, with core activities aimed at providing services to prominent families mainly from Central and South America and Europe.

Credit des Alpes was originally established in Switzerland, and operates internationally in real estate, mergers and acquisitions, private equity and financing. Among Credit des Alpes' deals in Miami, highlights include the 2007 sale of The Saxony Hotel in Miami Beach to an institutional investor in a sale and leaseback involving the Cipriani Group; the US $254 million deal included a portfolio of 209 hotel suites and 65 luxury residences, and remains one of the largest property transactions in Miami to date.

SOURCE Parinvest Asset Management Inc.