Rithm Capital Corp. has entered into a definitive agreement to acquire Paramount Group, Inc. for approximately $1.6 billion.
Paramount owns, operates, manages, and redevelops Class A office properties in New York City and San Francisco.
The acquisition will expand and diversify Rithm's commercial real estate footprint and asset management capabilities.
Total Cash Consideration
Acquisition valued at $1.6 billion, with Rithm offering $6.60 per fully diluted share of Paramount common stock.
Strategic Opportunity
Rithm sees the acquisition as a generational opportunity to enhance its commercial real estate and asset management platform.
Positive Impact on Investors
Introduces new opportunities for investors to access Rithm's real estate platform and strengthen Rithm's asset management business.
- The acquisition will provide Rithm with a Class A office portfolio in premier markets at attractive levels.
- Rithm's asset management business is expected to create value in the commercial real estate market with a growing footprint of high-quality office assets.
The acquisition of Paramount by Rithm Capital signifies a significant move in the real estate sector, positioning Rithm for growth and value creation in the commercial real estate market.