Rithm Capital Corp. has successfully completed the acquisition of Paramount Group, Inc. (NYSE: PGRE).
Paramount Group, Inc. is a real estate investment trust that owns and operates Class A office properties in New York City and San Francisco.
The acquisition enhances Rithm's asset management platform and extends its presence in commercial real estate.
Acquisition of Paramount Group
Rithm Capital Corp. has acquired Paramount Group, Inc., a real estate investment trust with significant office property assets in key markets.
Diversified Asset Management
The acquisition enhances Rithm's diversified, fully integrated asset management platform with a focus on commercial real estate assets.
Strategic Growth Plans
Rithm Capital Corp. aims to develop and improve the acquired assets to drive value and capital growth in the New York City and San Francisco office markets.
- The completed acquisition strengthens Rithm's position in the commercial real estate sector, particularly in New York City and San Francisco.
- Rithm's integrated investment platform now includes a broader portfolio of high-quality office assets, providing opportunities for value creation and portfolio expansion.
The acquisition of Paramount Group marks a significant advancement in the commercial real estate strategy of Rithm Capital Corp. It sets the stage for further growth and enhancement of their asset management capabilities.