Rithm Capital Corp. has entered into a definitive agreement to acquire Paramount Group, Inc. for approximately $1.6 billion.
Paramount Group is a real estate investment trust that owns Class A office properties in NYC and San Francisco.
The acquisition will expand Rithm's commercial real estate footprint and asset management capabilities.
Acquisition Details
Rithm will acquire all outstanding shares of Paramount common stock for $6.60 per share.
Impact on Investors
The acquisition will create new opportunities for investors to access Rithm's real estate platform.
Management Statements
CEOs of both companies emphasize the strategic benefits and value creation from the acquisition.
- The acquisition will provide Rithm with a significantly larger office portfolio in prime markets.
- It will enhance Rithm's asset management capabilities and strengthen its position in the real estate market.
The agreement between Rithm Capital and Paramount represents a strategic move to expand Rithm's real estate presence and create value for shareholders.